To follow up on last week's article on Google's announcement of their forthcoming mobile wallet app, we thought we would provide information on who is excited and confident in a virtual wallet system, and who still holds some reservations regarding the technology. 62% of all cell-phone users are willing to use mobile wallet as a payment system, when it becomes available this fall. 63% of 18-34 year olds are ready for virtual wallet availability, while a mere 37% of over 35 year olds feel confident in the system. Also, not surprisingly, 62% of people surveyed said they would need solid confirmation that their financial information was secure before they would feel comfortable using their cell phones for payment. Mobile wallet is coming, and enough consumers are ready to use the technology that it will definitely change payment and promotional strategies for major retail companies. Near Field Communication will allow for geographic based promotions, and the line between an online and offline customer is sure to be blurred. For more information on the
demographic break-down on mobile wallet confidence, click here.
