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Why College Students Prefer Mobile Payment Methods

College students love PayPal

March 21, 2016

College students use a variety of mobile payment methods, including PayPal and Apple Pay. According to December 2015 research, they use these methods because they are easy to set up and use.

Reasons for Using Their Preferred Mobile Payment Method According to US College Student Mobile Payment Users, Dec 2015 (% of respondents)

Sallie Mae and Ipsos surveyed 793 US internet users ages 18 to 24 who currently attend a technical school or 2-year or 4-year undergraduate institution. Nearly half (48%) of US college student mobile payment users said they used their preferred mobile payment method because the account was easy to set up. And 44% said it was because of the ease of use.

Mobile Payment Methods Used by US College Student Internet Users, Dec 2015 (% of respondents)

College student mobile payment users also reported preferring mobile payment methods because their friends and family use them, they’re easy to manage and are accepted at the places they need to use them.

When it comes to the types of mobile payment methods used by college student internet users, PayPal is most popular. More than half (58%) of respondents said they used it.

Some 18% of college student internet users said they used Apple Pay, and 16% of respondents said they used Google Wallet.

Peer-to-peer payment method Venmo was another choice that 11% of college student internet users said they used.

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