The slow adoption of m-payments in the United States is finally taking off to mainstream levels. Mobile wallet use in the United States has been slow to take off, particularly when compared to countries in Asia and Europe. That said, the use of m-payments has finally started taking off and will eventually overtake credit cards. The adoption rate for mobile wallet use in the U.S. is rising. A new F.I.S. report predicts that the use of smartphones to complete online payment transactions will overtake credit cards. This is an important…
Read MoreTag: american mobile payments
American mobile payments infrastructure half a decade behind India’s
Ezetap CEO, Bobby Bose, recently stated that the Indian systems are “five years ahead of the U.S.” The American mobile payments infrastructure is far from a global leading marketplace, according to recent Ezetap CEO statements. The head of the Indian mobile payment firm, Bobby Bose, said that his home country’s infrastructure “is probably five years ahead of the U.S.” India is undergoing a massive shift toward the digital marketplace and most consumers are choosing mobile. “India is going through a digitalization of almost everything. It started with commerce, went to…
Read MoreAmericans more confident in mobile payment security than global average
Ninety-four percent of people in the U.S. are comfortable with wallet app security levels. Consumers are placing a growing level of trust in mobile payment security and smartphone based shopping, particularly in the United States. In fact, many consumers expressed greater confidence in their devices than the security of stores themselves. Interestingly, while the United States has not seen rapid adoption rates for mobile wallets, it doesn’t seem to be a lack of trust presenting the greatest barrier. This goes against many of the main predictions about the use of…
Read MorePeer to peer mobile payments starting to make US smartphone transactions relevant
Though the majority of consumers have yet to start paying for products with devices, they are showing interest. Recent figures show that peer to peer mobile payments are starting to give smartphone transactions a boost in the US. That category of mobile wallet use is seeing the most rapid growth by far. In store mobile payments to purchase goods and services are still seeing notably slower growth. Peer to peer mobile payments has remained the category of transactions consumers in the US are most likely to use on their devices.…
Read MoreMainstream adoption is eluding mobile payments
Mobile commerce continues to be on the cusp of going mainstream Mobile payments have been on the verge of becoming mainstream for years now. The idea is attractive to people that have become very reliant on smartphones and tablets, but it has yet to take hold with most people. The idea of shopping from a mobile device is very similar to the concept behind e-commerce. Shopping online is, perhaps, one of the most significant trends to emerge in the retail and business sectors in the past decade. In general, however,…
Read More