BOSTON—It’s taken some time, but mobile wallets are catching on with consumers, according to a new report.
A study by Chadwick Martin Bailey—The Mobile Wallet in 2015—finds that almost one-in-six U.S. consumers (15%) have used a mobile wallet in the past six months, up from 9% in the same period in 2013, and an additional 22% are likely to adopt mobile wallet functionality in the coming six months.
Of the 1,716 consumers surveyed, 18% said they are "very familiar" with mobile wallets, compared to 8% in 2013, while 44% said they are "somewhat familiar" compared to 42% in 2013, and 37% said they were "unfamiliar," a decrease from 50% two years ago.
Among those who use mobile wallets, 61% have used PayPal with an average 88% satisfaction rate, 38% have used Amazon (84% satisfaction), 31% have used Starbucks (93% satisfaction), 31% have used Apple Pay (89% satisfaction) and 31% have used Google Wallet (82% satisfaction).
PayPal is the preferred wallet provider among respondents with 71%, followed by Apple with 55%, Amazon with 49%, Google Wallet with 48% and Microsoft with 34%.