Will Internet Users Start Using Mobile Payment Apps Anytime Soon? - eMarketer

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Will Internet Users Start Using Mobile Payment Apps Anytime Soon?

Just 21% of respondents were likely to use a mobile payment app in the next year

August 1, 2016 | Retail & Ecommerce

Mobile payment apps have been around for a while, but its seems people aren’t rushing to use them anytime soon, according to April 2016 research. In fact, more than three-quarters of US internet users said they are very or somewhat unlikely to start using a mobile payment app within the next 12 months.

Likelihood that US Internet Users Will Start Using a Mobile Payment App, April 2016 (% of respondents)

The likelihood of respondents using a mobile payment app soon was low, data from Citi Cards uncovered. Just 21% of internet users said they were likely to start using one in the next year.

However, separate research from Retale revealed that consumers may in fact be warming to mobile payments. Internet users surveyed in 2015 said that retailers should offer mobile payments in-store, and many were interested in using mobile payments to make an in-store purchase during the holiday season.

US Proximity Mobile Payment Transaction Value, 2014-2019 (billions and % change)

Furthermore, eMarketer estimates that proximity mobile payments in the US will ramp up aggressively this year. Transaction value will triple in 2016 due to a growing user base, broader merchant acceptance and the greater frequency of consumers using their phones to make point-of-sale payments on medium- and high-priced products.

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