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Mobile Wallet Adoption Remains Slow

Mobile wallet usage in the United States remains small and shows no signs of increasing soon, according to a PYMTS.com study.

The research found that less than 5 percent of consumers who have one of the main wallet use it when they can. The study also showed percentage of people who have trying a such a solution appears has flatlined for most mobile wallets – except Apple Pay, which has been in the market the longest and actually seen its first-time usage go down.

Some of the study’s other findings:

  • Apple Pay leads the pack when it comes to number of consumer have at tied it at least once at 22 percent, compared to 15 percent for Samsung Pay and less than 10 percent for Android Pay.
  • A higher percentage of consumers who have Samsung Pay use it for a transaction – 4.5 percent. Apple Pay came in a close second at 4 percent, while Android Pay users used that payment app only 1.1 percent of the time.
  • A little more than 3 percent of consumers have Walmart pay, which launched eight months ago, installed on their phones. That compares to Apple Pay (2.5 years in the market) and Samsung and Android Pay (1.5 years in the market) which have seen fairly flat usage stats for their entire existence.
  • The main reason respondents indicated that they aren’t using mobile wallets is that they are happy with their current payment methods such as plastic cards and cash. One bright spot for mobile wallets is that people are becoming less worried about security.
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