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Differing forecasts for mobile wallet

Differing forecasts for mobile wallet

Research and opinion on mobile payment trends contain conflicting predictions and conclusions, partly as a result of banks commissioning fewer market studies, leaving researchers to find a new starting point for evaluation, says consultant Steve Mott.

For example, research from Auriemma Consulting Group found at least 42% of iPhone 6MBNA launch digital wallet with MasterPass and 6 Plus users have tried Apple Pay at least once, while 47% of holdouts said they planned to try it out.

However, a concurrent InfoScout report said as of March 85% of respondents with an iPhone and Apple Pay had not tried the mobile wallet. Meanwhile, reported Apple Pay has boosted mobile wallet awareness, yet just 17% of 1,000 polled U.S. adults said they would always use their mobile phones to make purchases.

Geography and demographics also can lead to varying conclusions, as demonstrated by a recent Timetric survey in which 52% of 300 global financial business pros consistently made phone-based payments, with Asia-Pacific respondents more frequent users than their European or North American peers.

Analyst Thad Peterson cites location and the preferred definition of mobile payment as major influencers on researchers’ conclusions. “You have to look at research on a market-by-market basis, as each is evolving differently,” he says.

The post Differing forecasts for mobile wallet appeared first on Payments Cards & Mobile.

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