Research Firm: UK Consumers Interested in Mobile Wallets, but Barriers Make Takeoff ‘Very Unlikely’ in 2013

Jan 9 2013

While a sizable percentage of UK consumers say they are ready to use their smartphones as mobile wallets to make payments at the physical point of sale–especially if they receive incentives and security assurances–mobile wallets are unlikely to take off in 2013, according to UK-based market research firm ICM Research.

The firm, which surveyed 2,015 consumers in the UK online during the Christmas shopping season, found that a little more than a third, 34%, of consumers said they would definitely or probably use their mobile phones as a wallet to make payments, collect coupons or store event and transit tickets. And this figure rises to 46% when the firm screened for just smartphone owners.

The percentage of likely users increases further, to slightly more than half, or 51%, if incentives, such as discounts, are offered or security concerns are addressed, according to ICM.

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