Author: JT

Survey highlights consumer attitude toward mobile payments

| December 1, 2014

Consumers are becoming more aware of mobile commerce and more likely to participate therein

Retale, a location-based shopping and marketing firm, has released the results of a recent survey it conducted in the United States. The survey found that consumer attitude regarding mobile payments has begun to shift. In the past, many people had been somewhat leery of mobile commerce, concerned that mobile platforms were not as secure as they often claimed to be. As people have become more exposed to mobile payments, however, they are growing more interested in the concept.

56% of consumers are willing to use their mobile device to pay for products they are shopping for

According to the survey, 56% of consumers noted that they would be willing to participate in mobile commerce to purchase a gift for others or something for themselves. A massive 91% of respondents noted that they had already made a mobile payment in order to purchase a product. Many consumers have mobile commerce on their mind relatively frequently. Some noted that they look for mobile payment support when they visit physical stores.

Consumers favor the convenience of mobile commerce

Mobile Payments SurveyConvenience is the main reason behind consumer interest in mobile payments. Approximately 58% of consumers said that they favor the convenience that mobile commerce offers over more traditional forms of commerce. Despite the benefits of mobile commerce, consumers still have concerns, especially when it comes to security.

Security issues remain the greatest barrier between consumers and mobile payments

The survey found that the greatest concern that consumers participating in mobile commerce have has to do with security. Recent high-profile cyber attacks on retailers have thrust the security issues that mobile commerce faces into the limelight. Many consumers have expressed their worry that their financial information is not safe when they are using a variety of mobile services. Others are concerned that mobile payment platforms can be accessed to easily if their smartphone or other device is stolen. Still others have expressed concerns regarding how difficult it is to keep track of their spending on some mobile platforms.

Canadians are slow to embrace mobile payments

| November 24, 2014

Mobile commerce is experiencing lackluster growth throughout Canada

Mobile payments may experience lackluster growth in Canada. A new study from GfK, a global market research firm, shows that Canadians are somewhat apprehensive when it comes to using a smartphone to make a payment. While Canadians have developed a reputation for being early adopters of new technology, they are not convinced that mobile commerce is a good solution for shopping or as secure as it should be. Notably, security is one of the biggest issues that consumers in Canada are concerned about.

Study shows that security concerns are a major issue for Canadians interested in mobile commerce

According to the GfK study, Canadians consider security to be a major issue when it comes to mobile payments. Many mobile commerce services have become available in Canada, but relatively few of them have proven that they are capable of ensuring the safety of consumer financial information. Some high-profile cyber attacks in the United States and Canada have also called into question whether or not mobile commerce services are safe.

Canadian consumers are more interested in traditional forms of commerce due to extensive experience and the availability of familiar services

Canada Mobile Payments - slow adoptionThe study also notes that Canadians may not be interested in mobile payments because they already have plenty of ways to pay for products in stores. ATM transactions are significantly larger in Canada than they are elsewhere and the country’s ATM and debit card structure is well designed to meet the needs of consumers. In order for mobile commerce to grow in Canada, consumers would have to train themselves in new ways to purchase products and break old habits concerning physical currencies and payment cards.

Retailers are revising their mobile focus and putting more effort on providing consumers with convenient services

Some large retail organizations have been making moves to establish a foothold in the mobile commerce space, but have found relatively little support among consumers. As such, retailers have begun to pull back their mobile initiatives, focusing more on traditional forms of commerce and giving consumers access to services they may be more comfortable with.