Most internet users in the US and Europe are not particularly excited about making more transactions on their phones because of security concerns. In August 2016, GfK surveyed 20,000 internet users ages 18 and older from 20 countries about their mobile shopping habits. The figures revealed that only 26% of Americans and 28% of Europeans said they looked forward to making more transactions on their mobile devices, while more than half of internet users from Asia-Pacific (51%) or Latin America (65%) felt this way.
Regarding security fears, the same study found that 55% of US respondents were concerned about their personal information when using mobile payment apps and only 16% think that making mobile payments via mobile device is more secure than other methods.
eMarketer estimates that 38.4 million Americans ages 14 and over will make mobile proximity payments in 2016. Most of them will be young, and they will spend a collective USD 27.67 billion. That figure will more than double in 2017, the site continues.
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