A recent study from Urban Airship reveals that 54% of US and UK consumers have now used a mobile wallet, with 30% of respondents using them in the past week.
60% of the 2,000 respondents have used a loyalty programme within their mobile wallet and 67% want to do so. 53% of consumers have used coupons and 62% want to. 22% have made a credit card payment via a mobile wallet and 57% want to do so, while 16% have used gift cards through a mobile wallet service and 39% want to do so.
In the last three months, 67% of millennials have used mobile wallets, compared to 51% of respondents aged 35 to 54. 62% of respondents with household incomes greater than USD 60,000 have used mobile wallets in the last three months, compared to 39% with household incomes below USD 60,000.
84% of millennials and 80% of respondents with household incomes of more than USD 60,000 are more likely to use mobile payments if loyalty rewards and discounts are automatically applied. 69% of respondents are also more likely to use their loyalty card if it’s on their mobile phone.
73% of those surveyed are also more likely to join a loyalty program if points and rewards are automatically updated and immediately visible on mobile wallet loyalty cards. If respondents receive expiration reminders via their mobile wallets, 64% are more likely to make use of the coupon.
Mobile wallets adoption is especially high for people with above-median household incomes and millennials, an age group where apps and mobile wallets displaced text/SMS from the top four preferred communication channels. The young and more well-off also skew much higher in behaviours that make mobile wallets an ideal fit, from letting physical coupons go unused or expire, to desiring the dynamic engagement and reminder functionality that mobile wallets provide, the study continues.
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