STUDY: Consumers Don't Trust Mobile Payment Services

Messaging challenges for Apple Pay

shutterstock_135675284Mobile wallets and related apps are the hottest new innovation in tech, right? Apple Pay was the company’s big announcement last year; the company had plenty of partners like Chase and Capital One lined up, and a survey covered yesterday by VentureBeat estimated that 38 percent of “major retailers” will be using it by the end of the year.

Here’s the problem: consumers’ trust in such services is on the decline…especially in the United States.

A survey by MEF Global, a UK-based firm serving global companies like MasterCard, Samsung, and Microsoft found that the main reason consumers don’t use mobile payment options is that they don’t trust the responsible companies to protect their privacy.

The firm surveyed 15,000 mobile users in 15 countries to reach these numbers:

  • 49 percent of consumers say “lack of trust” limits the number of payment apps and “mobile wallet” services they use, and that’s an eight point jump from one...
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