The survey, “The Age of Mobile Wallets: What Banks Need to Know When Considering the Creation of a Bank Branded Mobile Wallet”, was conducted by management consulting company CCG Catalyst and was issued to a panel of 25 million US consumers, generating 2.000 completed surveys.
Respondents answered a series of questions divided in three key themes: habits, behavior and usage, measuring consumer attitudes towards mobile wallets versus non-bank mobile wallets.
According to CCG Catalyst, the top challenges for mobile wallet adoption are fear of identity theft and merchant acceptability.
The survey also found that more than 66 % of participants monitor their spending and paying bills, while more than 47 % check their bank accounts status daily.
More than 58 % occasionally use their mobile banking app to bank, the report noted.
PayPal mobile emerged as the most popular mobile wallet used by consumers who participated in the survey (45 %).
CCG Catalyst is a bank consulting company providing strategic direction and guidance for banks in the US and North America.
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