A report just published from agency Catapult pointed to principle issues that will hinder mobile wallet take up in the US.
To recap, the term, “mobile wallet” covers any mobile phone from which you can pay for real goods via your ‘phone. This can be through NFC technology allowing you to connect your ‘phone to a payment device (like an Oyster card works in the London Underground) or via ‘the cloud’ where your payment details are stored online and accessed through your phone to pay for goods.
According to March 2012 panel-based research by marketing solutions agency Catapult, just one-quarter of US consumers were at least somewhat interested in using a mobile wallet for in-store purchases. In contrast, 58% were uninterested—including 41% who reported a complete lack of interest. Correspondingly, in January 2012, market research firm TNS found that 60% of US mobile phone users were not interested in mobile wallet technology.
[quoted from emarketer]
The report highlighted consumer respondents worried about losing their mobile ‘phone (or it being stolen) as a major obstacle to take up. Furthermore, the article highlighted the lack of perceived benefit for the consumer to using the ‘phone as a payment device.
About one-third of respondents said mobile wallets would be a more convenient way to pay, with 28% specifically citing coupons sent straight to the phone as an anticipated benefit and 24% citing faster checkouts as a draw. But fully half of respondents said they saw no benefit to having a mobile wallet.
We believe with the audience scale and marketing power of the iPhone, a good many more consumers could be encouraged to use the Mobile Walle. Until we receive the official specifications for the ‘next iPhone’ we can’t be sure of its path.