Survey: More Mobile Payment Use During The Holiday Season

By Ally Kutz, contributing writer

Stratos released the results of its 2014 Holiday Mobile Payments Survey, finding that nearly 30 percent of smartphone owners in the U.S. plan to use mobile payment offerings this holiday season, with roughly 17 percent stating they would spend more this season due to new payment options.

The survey targeted 400 smartphone owners aged 24 to 50 in early November amid a panel of more than 20 million people, with data reported at a 95 percent confidence level.

In the survey, it was discovered that 66 percent of customers — roughly two-thirds —want to utilize mobile payment applications in department stores alone. Interest in mobile payment applications for discount retailers, coffee shops, fast food, and toy stores range between 40 and 50 percent of customers, while drug stores, hotels, upscale restaurants, and bars come in at an interest between 26 and 35 percent.

Although the study suggests increased use in the mobile wallet, there are still apprehensions about its application. Almost 70 percent of smartphone owners expressed uncertainty about which stores would accept mobile payment, while one-third indicated preference of payment card over mobile wallet, asserting that phone pay is not appealing to them.

This study brings new information for improvements and target groups in the mobile wallet market. “It is clear that people are interested in mobile payments but it doesn’t mean they’re going to abandon their cards,” Thiago Olson, CEO of Stratos, Inc., identified. “Our research shows that while American smartphone users would like to use their smartphones to pay for gifts at department stores, they are less likely to want to use the same system to pay at a hotel, upscale restaurant, or bar.”