17 percent said they would spend more because of mobile payments but majority uncertain which stores will accept these new options
ANN ARBOR, Mich.–(BUSINESS WIRE)–November 20, 2014–
Stratos, Inc., creator of the Bluetooth Connected Card™ Platform, today announced results from its 2014 Holiday Mobile Payments Survey. The consumer survey found that nearly one out of three (30 percent) US smartphone owners plan to use mobile payment offerings such as Apple Pay or Google Wallet for shopping in stores this holiday shopping season. In fact, 17 percent of the smartphone users said they would spend more because of these new payment options. Smartphone users wanted to use mobile payments applications like Apple Pay and Google Wallet in these locations for the holidays:
- 66% Department stores
- 48% Discount retailers/super stores
- 43% Coffee shops
- 42% Fast food
- 41% Toy stores
- 35% Drug stores
- 28% Hotel
- 28% Upscale restaurant
- 26% Bars
- 23% Boutiques
However, when it came to American smartphone users’ comfort level with the new technology, Stratos found less than 5 percent were “more comfortable” paying with their devices than using traditional payment cards such as credit or debit cards. A clear majority (69 percent) of smartphone users were uncertain which stores would actually accept this type of phone payment.
When asked what appeals most about mobile payments for in-store shopping, the number one reason was “I don’t have to worry about getting my credit or debit cards stolen” at 37 percent. The second most important reason was “I can track my spending more easily electronically” at 32 percent, followed by 31 percent of smartphone users saying, “Phone pay is not appealing – I would rather pay by payment card.”
“It is clear that people are interested in mobile payments but it doesn’t mean they’re going to abandon their cards,” said Thiago Olson, CEO of Stratos, Inc. “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 a bar. Our findings show that Americans are more comfortable paying with their cards. We are excited to deliver connected cards to further improve the consumer in-store mobile payment experience – increasing spending using a familiar, universal accepted, dynamic card.”
This survey was conducted online within the United States by research firm AYTM – Ask Your Target Market among 400 smartphone owners ages 24 – 50 on November 11, 2014 amongst a panel of over 20 million people. AYTM has been used by companies like Adobe, NutriSystem, NBC, Intuit, and Samsung. The research from AYTM has been covered in media outlets such as the BBC, The Huffington Post, Mashable, AdWeek, TIME, USA Today, eMarketer, CNN Radio, and TechCrunch. The data is reported at 95% confidence level with a margin of error of + or – 4.9%. For complete survey methodology, please contact firstname.lastname@example.org.
Stratos, Inc. is the creator of the Stratos Bluetooth Connected Card™ Platform that combines plastic cards into a single, smart, dynamic card. Credit, debit, loyalty, membership and gift cards can be loaded into one mobile-connected card, empowering people to make better, more informed payment decisions while simplifying transactions through a familiar, reliable form. Stratos allows merchants and card issuers to strengthen brand loyalty with better data and improved communications to card users without infrastructure change. For more information, visit http://www.stratoscard.com.