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Europeans rapidly adopting mobile payments

Europeans rapidly adopting mobile payments

The number of Europeans who will use a mobile payment application in 2015 will rise 51% year over year for a total of about 185 million, according to an ING survey.

59% of 14,000 consumers said they are more likely to use bank-associated apps for

A smartphone with contactless enables Visa card through NFC SIM

Europeans rapidly adopting mobile payments

mobile, compared to 39% of those who will use “named groups” such as Google or Apple.

“The global market for mobile payments is reported to be growing rapidly and what we’re seeing is a major shift in consumer attitudes and behavior to support that growth, though not everyone is convinced about moving to a cashless society just yet,” says ING’s Ian Bright.

He notes users feel mobile banking apps give them a greater sense of freedom and control over their finances. The ING poll also found half of respondents said they used a mobile payment app because it is faster, 42% because it is easier, and 33% because it is usable in multiple locations.

Meanwhile, 42% who have not used such apps cited a lack of trust, 41% listed a lack of opportunity, and 10% noted a lack of understanding. The survey also found more European consumers, particularly those in Turkey and Poland, are adopting mobile payments than their U.S. counterparts.

The post Europeans rapidly adopting mobile payments appeared first on Payments Cards & Mobile.

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