US: 40% of m-wallet users use mobile methods as primary mode of payment - report

In the same report, consumers agreed (69%) that they would convert to mobile payment methods if merchants were to offer discounts specific to purchases made via mobile wallet.

Also driving their decision would be if the reward programs that they are currently enrolled in would honour mobile transactions, and if rewards programs and mobile wallet could be integrated to redeem points immediately (69%).

Men and women are almost equally likely to use a mobile wallet and users span all income levels, the survey also found. Those making less than USD 50,000 a year (32%) and those earning more than USD 100,000 (29%) are the most likely to use a mobile wallet. The majority are aged 18 to 34 (55%), while 35% are aged 35 to 54.

The most popular mobile payment methods among smartphone payers are bar codes and quick response (QR) codes, which consumers simply display on their device so cashiers can scan them (45%).

Additionally, 37% of smartphone payers tap their device on a payment reader using near field communication, while 29% of smartphone payers scan the barcode or QR code using the device’s camera.

Finally, the survey found that 71% of P2P app users say it reduces tension around splitting a bill, while 73% said they like the convenience of not having to split checks or find an ATM. Almost half (49%) have used P2P payments while dining.