The survey, conducted in March 2015 by 451 Research’s ChangeWave service, consisted of 4,168 respondents primarily based in North America, and looked at planned use of mobile payment applications and the issue of security.
To appraise overall consumer interest in mobile payment applications, 451 Research asked smartphone owners about their planned use over the next 90 days, and the survey results show strong interest.
Therefore, one-quarter (25%) of smartphone owners said they are likely to use mobile payment apps over the next 90 days (11% very likely; 14% somewhat likely). This number is up just 1-pt since 451’s previous ChangeWave survey in December 2014, but is a full six points higher than in 2013. Smartphone owners using iOS (34%) are more than twice as likely to use mobile payment apps compared to Android (16%), BlackBerry (13%) or Windows Phone (5%) users.
The study highlights that Apple Pay is the top choice in terms of mobile payment applications consumers plan on using going forward. A total of 45% say they plan to use Apple Pay – which is a 5-pt jump since December 2014. PayPal (28%) is still solidly in second place, but is down four points compared to three months ago.
The report mentions that when looking at satisfaction among consumers who are already using mobile payment apps, Apple outperforms, with 66% of those who have used Apple Pay saying they’re very satisfied with the service. PayPal (45%) is in second place, followed by Google Wallet (33%).
The survey also focused on consumer sentiment toward mobile payment security, and asked all respondents whether they consider mobile payments to be more or less secure than traditional credit cards. In an important finding, the results show a slow, yet steady, improvement in the perception of security over the past year.
One in four respondents (24%) believe mobile payments are more secure than traditional credit cards (6% significantly more; 18% somewhat more), while 27% think they’re less secure (16% somewhat less; 11% significantly less). This is a net three-point improvement compared to December 2014 and a major 26-point improvement since 2013.
Other key findings include the fact that respondents interested in buying an Apple Watch are twice as likely (54%) as all other smartphone owners to say they will use mobile payment apps (29% very likely and 25% somewhat likely). Furthermore, the Secure Storage of Financial Account Information (84%) is the most important feature in a mobile payment app according to likely users, followed by Widespread Acceptance Among Merchants (70%).
The survey also looked at overall consumer interest in Samsung’s new mobile payment service set to launch in summer 2015. A total of 8% of respondents say they’re “very or somewhat likely” to use Samsung Pay in the future. But that number jumps to 25% among Samsung smartphone owners, and surges to 46% among those planning to buy a Samsung smartphone in the next 90 days.
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