Bridging the Digital Wallet Divide

Mobile payment barriers and motivations for consumers and merchants

Low awareness among consumers is an obstacle to adoption in general, including:

46% Concerns about account security
40% Haven't taken the time to figure it out
23% Don't think the merchants I shop at frequently accept digital wallets

Consumers could benefit from more information on security, acceptance, benefits and cost.

Merchants face their own barriers to adoption:

The upgrades would be costly: 35% large business | 39% small business
Consumers aren't asking for it: 24% large business | 39% small business
Integration to my current system would be difficult: 30% large business | 20% small business

What would incentive consumers to adopt mobile payments?

36% rewards points | 35% discounts at purchase | 32% faster checkout

Merchants are motivated by faster and more secure checkouts:

51% say I can be more efficient with faster checkout
44% say I am meeting my customers' demands for a better shopping experience
40% say more security features

Consumers believe there will be an increase in usage of mobile wallets in the future, and Merchants are planning to meet that demand:

39% of consumers are likely to sign up for and use the latest digital wallet solutions over the next year
59% of merchants plan to update their POS systems in the next year

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