Report: Consumers Cool on Mobile Payments for 2012 Holidays
Oct. 29, 2012
A new report suggests consumers are not yet comfortable with using mobile devices to make high-dollar value purchases and most will not make mobile purchases of any kind. The report found that this holiday season, most shoppers using mobile devices will spend between $20 and $100 per transaction but, while 60 percent of consumers own a smartphone or tablet only a quarter of them have made a purchase with the device.
The report from Massachusetts-based e-commerce payments processor Litle & Co. also found most consumers are not as caught up in the hype surrounding mobile payments as breathless reports in the media might indicate. Only 8.6 percent of shoppers with smartphones think mobile wallets are going to change the payment world, the report said. And, nearly three-quarters of those polled have never used a merchant’s mobile swipe service (such as Square).
“The number of shoppers transacting via their mobile devices is small, and really calls into question the consumer appetite for mobile payments,” said Ben Saren, vice president of marketing at Litle. “For retailers and merchants, these research findings present important insights that should be factored into marketing and targeting plans this holiday shopping season.”