Mobile Wallet Use Up In 2016
It seems that people are always looking for an easier and more convenient way to pay for their purchases. Still, it’s taken some time for folks to get comfortable using their phones at the register, through one of the many mobile wallet apps available. Finally, there are signs that the tide is turning and people are becoming more used to mobile wallet technology.
The Capital One® Wallet Survey found that in 2016, nearly a quarter of respondents said they were taking advantage of mobile wallet apps. They may or may not be making actual purchases with those apps, but they are using them in some capacity or other.
Sixteen percent of those surveyed said they’d made a purchase with their mobile wallet over the past year, while 24% were using a mobile wallet in some way. Of those 24%, more than 63% have only recently begun using mobile wallets; they said they’d been using it for less than one year.
The holidays give folks a reason to use their mobile wallets
As the holidays approached, almost half of those who are using mobile wallets said they’d use theirs to buy a holiday gift. And they’d use them even more, if more merchants allowed them to use them. Many smaller stores still don’t have the technology to accept mobile payments.
Almost every credit card issuer, however, does participate in some mobile wallet platform. Whether you have a Chase card, a Citi card, a Mastercard, Visa, or American Express card, you can use Apple Pay, Chase Pay, Google Wallet, PayPal, Android Pay, or another mobile wallet.
Grocery stores and fast food places see increased mobile wallet use
When asked where they use their mobile wallets, 49% of folks said they used them at a regular retail store. Narrowing it down, 41% said they’d used a mobile wallet at the grocery store, and 37% said they’d used it to pay for a fast food purchase. Drug stores were a slightly less common place to use mobile wallets, with only 26% of folks reporting using their mobile wallet there.
The Capital One Wallet Survey was conducted specifically to find out people’s attitudes toward mobile wallets, and included responses from more than 1,800 people across the United States.
Latest Credit Card Issuers News
General waiting guidelines While there is no universal rule on how often you can apply for a credit card, financial experts generally recommend waiting at least 3 to 6 months between credit card applications. Waiting 6 months (or up to a year if your credit is average or you’re rebuilding it) between applications could help […]
If you use a credit card, you generally have two options at the end of each billing cycle: pay your balance in full or carry it over to the next month. Most of the time, paying in full is the better choice. Is it better to pay off your credit card in full? A common […]
Freezing your credit reports is a simple step you can take to limit access to your credit report, making it harder to open unauthorized accounts in your name. While many people know about the three nationwide consumer credit bureaus – Experian, Equifax and TransUnion, there are other consumer reporting agencies that collect and share information […]
The news that Capital One Financial has struck a deal to buy Discover Financial Services shook up the credit card market, paving the way for Capital One to become the largest nation’s credit card issuer in the country. Capital One, a stalwart in the financial sector and the ninth-largest bank in the U.S., plans to […]
Citi has officially launched its new travel platform with the assistance of Booking.com, which Citi cardholders can use for earning and redeeming Citi ThankYou points. Citi Travel with Booking.com will replace the existing City Thank You Travel Center and will offer access to over 1.4 million hotel and resort options, as well as competitive pricing […]
