Survey Says Most Consumers Not Waiting for Mobile Wallets

A survey conducted for consumer electronics shopping and review site Retrevo showed that only a little more than one in five respondents said they wanted NFC and a mobile wallet on their next mobile phone, while 53% said they were not interested and 26% didn't know what NFC or a mobile wallet was.

The results of the unscientific survey, which polled more than 1,000 people in June, were released this week. A Retrevo spokeswoman told NFC Times that the company hires a third-party survey firm to find people for its studies, which the firm conducts online. 

The survey results indicate security concerns might be one thing standing in the way of consumers’ embrace of NFC, though oddly enough, the results found respondents trusted Google and Apple more than they did Visa or MasterCard to provide a wallet. Mobile operators came in even lower on the trust question.

According to Silicon Valley-based Retrevo, the survey found that 36% of all phone owners “trusted” Google to provide a mobile wallet, 33% said they had most faith in Apple to offer one, but only 32% said they would trust a wallet from Visa, MasterCard or American Express. Even fewer, 26%, gave the nod to AT&T, Verizon or their cell phone carrier.

A breakdown of the data, however, showed that iPhone users were much more likely to trust Apple to provide the wallet, 61%, while 46% of Android phone users would trust Google to offer a wallet on their phones.

IPhone owners also would be more willing to adopt NFC and mobile wallets in their next phone, with 40% saying they were waiting for mobile-wallet capability in the future, compared with 24% of Android phone owners.

Google last month unveiled its NFC wallet, designed to run on the search giant’s Android operating system. Apple is not expected to offer a mobile wallet or even an NFC phone this year.

Among respondents with all types of phones, 28% of 18-to-35 year olds said they would be interested in NFC, the highest among any age group. Others in the group said they were unsure or were not interested. But fully three quarters of respondents over 50 said they were not interested in NFC, according to Retrevo. More male respondents, 27%, said they wanted to use NFC on their phones to make purchases than women, at 15%.

 

HEADLINE NEWS

In-Depth: Government Regulation of Mobility-as-a-Service Seen as Necessary to Encourage Widespread Adoption

Apr 16 2020

NFC TIMES Exclusive Insight – Government legislation will likely be needed for widespread adoption of Mobility-as-a-Service, or MaaS, to occur, according to UK-based Juniper Research, which believes that the regulations will be necessary to force MaaS providers, including transit service providers, to work together, as well as to persuade users to get out of their cars to cut carbon emissions.

Apple Pay Expands Support for Interoperable Closed-Loop Transit Cards in China, Though Not First NFC Pays Wallet to Do So

NFC TIMES Exclusive Insight – Apple on Wednesday expanded support for closed-loop transit payments across China, incorporating China’s T-Union interoperable transit cards in its Apple Pay service.

Insight: Virus Adds Urgency to Increasing Contactless Limits but Won’t Necessarily Drive Growth in Acceptance

NFC TIMES Exclusive Insight – While the Covid-19 virus outbreak is building awareness for contactless and NFC payments and is accelerating the increase in already low contactless transaction limits in Europe, it remains to be seen how much it will convince more merchants to accept contactless in the U.S.

Exclusive: After 10 Months, Sales of Public Transit Tickets in Uber App Still Make Up Small Share of Mobile Ticketing in Denver

Mar 24 2020

NFC TIMES Exclusive – Since last May, when ride-hailing service Uber officially began enabling customers to book and pay for public transit tickets in Denver directly in the Uber app, use of the service remains relatively low, accounting for less than 3% of all mobile tickets purchased by customers of Denver public transit agency RTD, NFC Times has learned.

Former Garmin Pay Technology Providers Sue Device Maker Claiming Unpaid Millions, Though Offer Scant Proof of Claims

NFC TIMES Exclusive –  The founders of former payments wearables provisioning company Fit Pay, which was acquired last September for $3.3 million by smartwatch and fitness band maker Garmin, have sued the device maker and two other parties, claiming they are owed millions in missed earn-out payments.

Helsinki to Roll Out Multimodal Contactless EMV Fare Payments, with Plans for Daily and Weekly Fare Capping

Mar 12 2020

NFC TIMES Exclusive Insight – The Helsinki Regional Transport Authority plans to accept contactless EMV payments on its multimodal system, including its buses, metro, trams and ferries. The rollout, expected to be completed in 2023, will also support daily and weekly fare capping.  

Transport for London’s Lucrative Sponsorship Deal with Google Shows Value of ‘Point of Sale’ Real Estate at Fare Gates

NFC TIMES Exclusive insight – Transport for London’s recent deal with Google to put the Google Pay Logo on more than 5,600 contactless gate readers across the large London Underground network is not the first time that the London transit authority has rented out its prime payments real estate to sponsors. Nor is it the only transit agency that has profited from sponsorship deals tied to its contactless EMV transit payments services. 

Amazon Launches Largest Checkout-Free Store; Clerks and POS Terminal Vendors Need Not Worry…Yet

NFC TIMES Exclusive Insight – Ecommerce giant Amazon expanded its no-checkout concept to its first “full-sized” supermarket Tuesday, in its headquarters city of Seattle, enabling shoppers to scan an app upon entering, pull products off of shelves and “just walk out,” with hundreds of cameras and numerous sensors having recorded everywhere the shoppers went in the store and everything they put into their shopping carts. A card on file in the app is charged as the customers leave.

Czech Banks See Growing Use of NFC Wallets with Smartphones and Wearables for Contactless Payments

Feb 18 2020

NFC TIMES Exclusive Insight – Banks in the Czech Republic say they are seeing significant and growing use of NFC-enabled smartphones and wearables, ranging from 6% to nearly 25% of all contactless payments–three banks told NFC Times–although a large majority of consumers continue to tap their contactless cards, not NFC devices, for in-store payments.

Brussels Transit Operator Sees Need for Global Interoperability of Fare Payments; Compares Benefits to Mobile Roaming

NFC TIMES Exclusive Insight – The head of information systems for a major European transit operator says he believes public transit agencies should support interoperable fare payments globally, like mobile network operators offer roaming when their customers travel abroad.

Oyster Card Here to Stay Despite Strong Growth of Contactless Fare Payments in London

NFC TIMES Exclusive Insight – As more and more transit authorities globally seek to emulate Transport for London’s success in gaining widespread adoption for contactless open-loop fare payments, they should take note that London’s closed-loop Oyster card remains popular, even among visitors to the city.

In-Depth: Tokenization Figures Demonstrate Majority of Mobile Payments Conducted Online

NFC TIMES Exclusive Insight –  Recent research and forecasts have confirmed what industry observers already knew: Despite concerted efforts by the Pays wallets to gain widespread use of mobile payments in the U.S. at the physical point of sale, the large majority of mobile payments are conducted online, not by tapping NFC phones or wearables in stores.