Here's Why Mobile Wallets Haven't Caught on Yet

Trust issues keep consumers on the sidelines of the connected device revolution

With all the talk about mobile payments, the launch of Apple Pay and numerous brands getting on board, why does it seem like no one is actually using his or her phone to pay?

It all comes down to the foundation of any relationship: trust. Or, in this case, the lack of it. In its third annual Global Consumer Trust Report, MEF, a global trade organization focused on mobile content and commerce, found that the increasing number of high-profile data breaches and a lack of clarity regarding data collection have left consumers more than wary.

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