Tag: mobile payment

Participants 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.

Verizon Wireless facing accusations of baring access to Google Wallet

Verizon Wireless has been making a name for itself in the realm of mobile commerce through the Isis platform. The company has been getting attention in the mobile commerce space for more than its participation in the Isis venture, however. Rumors have been circulating concerning the company’s restrictions concerning Google Wallet. According to these rumors, Verizon Wireless has barred all customers from accessing Google’s own mobile commerce platform. The telecommunications giant, however, suggests that this is not the case.

Company files report to the FCC

Verizon Wireless has delivered a report to the U.S. Federal Communications Commission, which regulations domestic and international communications via radio, television, wire, satellite, and cable. In its report, Verizon Wireless claims that it has not taken any steps to restrict access to Google Wallet. The allegations concernng the company’s restrictions are likely linked to a problem with Google Wallet itself, rather than any action that Verizon Wireless has made.

Problems may lie with Google Wallet itself

Earlier this year, Verizon began releasing NFC-enabled smart phones to the market. At the time these devices were released, Google Wallet was not ready to be made available on these platform. This quickly changed, however, as Google pushed for inclusion into the Verizon Wireless network, making the Wallet application compatible with the company’s latest  mobile devices. Problems began emerging as consumers found that they were unable to use Google Wallet, even though it was completely compatible with the device they purchased from Verizon Wireless.

Verizon suggests Google Wallet has yet to be approved for its security features

Verizon claims that the problem lies in the fact that Google has done little to gain approval for its mobile commerce application in terms of security. Verizon Wireless notes that Google Wallet’s security features require that it be approved by the company before it can be made widely available to customers. The company claims that Google is already well aware of this necessity, but that the technology giant has not yet sought approval for its mobile commerce platform.