Are Mobile Payments Actually Making Our Lives Easier?

Posted by Techvibes NewsDesk

There’s no denying the impact that digital connectivity is having on our daily routines.

It is even starting to transform how consumers pony up cash for their everyday purchases.

According to Nielsen’s Q2 2014 Mobile Wallet Report, 40 percent of mobile wallet users say they use mobile methods as their primary mode of payment.

So who are mobile payment users? Men and women are almost just as likely to use these digital services: 47 percent and 53 percent, respectively. Mobile payment users also span all income levels, with the highest usage among those making less than $50,000 (32%) and more than $100,000 (29%).

 

 

When it comes to check-out, bar codes and quick response (QR) codes, which consumers display on their device so cashiers can scan them, are the most popular mobile payment methods among smartphone payers (45%). Thirty-seven percent of smartphone payers tap their device on a payment reader using near-field communication (NFC), such as Google Wallet or Isis. Twenty-nine percent of smartphone payers scan the bar code or QR code using the device’s camera.

Mobile payment options are doing more than easing the way we pay for goods and services. In fact, peer-to-peer payment methods are helping relieve socially awkward situations that arise when groups of friends are out and faced with a large restaurant or bar tab. After enjoying a delicious meal and having fun with friends, 71 percent of peer-to-peer payment app users said that using these types of payment options reduces tension around splitting the bill. Seventy-three percent of consumers said they like the convenience of not having to split checks or find an ATM.

Chart: Nielsen

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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