Participan
ts in an online survey reveal that they believe a cashless future is on the way.
Harris Interactive has released the results of its most recent survey, which has indicated that among adults in the United States, well over half believe that mobile payments will replace both cash and credit card based transactions at some point down the road.
Over 30 percent of the respondents said that the replacement would occur in five years from now.
The survey was performed online from November 14 through 19, with the participation of 2,383 respondents. Each were adults and they all lived in the U.S. When asked about the replacement of credit cards with mobile payments, the 66 percent believed that this would one day occur. That said, only 32 percent of the participants felt that this would occur within the next half decade.
The mobile payments survey also looked into the replacement of cash with smartphones.
The results of the poll showed that the participants felt nearly the same way about cash as they did about credit cards in terms of their replacement by mobile payments technology. In fact, 61 percent of the respondents said that they felt that one day, we would no longer use cash because of our smartphone devices. However, only 26 percent believed that this will have happened in five years’ time.
The survey findings identified several different reasons that can explain the hesitation that consumers have regarding the use of mobile payments transactions. These can help to explain why adoption of the technology has been as slow as it has.
The survey presented the participants with a number of different reasons from which they could choose, in order to explain why they would hesitate to use mobile payments for making purchases. The answers included – but are not limited to – the following:
• Over half (52 percent) are content with their credit cards and/or cash so they don’t see a need to change.
• 51 percent expressed concerns over mobile security in terms of financial and private data.
• Half didn’t own a smartphone.
• 40 percent didn’t trust the security of entering mobile payments information into a merchant’s device.
Federal Trade Commission targets mobile games designed for children
Privacy in mobile games has become a very problematic issue, according to the Federal Trade Commission, a government agency focused on consumer rights. According to the agency, the developers of mobile games that target children are not doing enough to protect the privacy of these consumers. These mobile applications often collect information from their users, such as name, email address, and even financial information provided by parents. If these applications are compromised by malware, this information could be exploited, with catastrophic consequences.
Mobile games for children are not developed with privacy in mind
Developers of mobile games, especially those targeting children, rarely have privacy as a primary concern. Younger consumers are not necessarily considered to have access to any vital information that would attract the interest of a hacker, but this is not usually the case. The Federal Trade Commission notes that many young consumers make use of their parent’s information, often without the knowledge of their parent. While this practice is typically rare, the growing popularity of mobile devices and their reach to a younger audience is causing this practice to spike.
Developers not supplying enough information
Moreover, the Federal Trade Commission suggests that developers of mobile games have not done enough to provide parents with the information they need to make informed choices regarding the applications that their children use. Mobile games designed for younger consumers are often marketed in a way that would be appealing to children, not adults. The agency notes that only 15% of the mobile games it examined for its investigation provided information letting parents know that there are in-app advertisements, many of which are designed to acquire information from the person following them.
Privacy continues to be a major concern for mobile consumers
Privacy continues to be a hot topic in the mobile space. Companies like Apple have run into legal trouble in the past over their privacy and security methods. Privacy concerns are beginning to affect the mobile applications market, with consumers becoming less willing to purchase or download a particular app unless they can be convinced that their information is protected in some way.
