According to the study conducted by market research firm GfK NOP, polled consumers perceive the trust of a financial brand and familiarity of a mobile brand as a crucial factor when it comes to adopting a mobile payment service supplier.
Thus, at a brand level, the study has revealed that PayPal has the highest preference of all those tested in the research, followed by Nokia in China and Apple. Thus, the survey has highlighted that these three brand examples have shown that, whilst financial brands have built up high levels of trust, mobile-based brands are catching up fast in this market segment.
Moreover, when it comes to choosing mobile payments suppliers at a category level, the study has revealed that the financial brand category has the highest levels of trust, consideration and preference among 48 percent of consumers in the survey. The study has pointed out that mobile and telecommunication brands receive significantly lower levels trust when it comes to controlling financial transactions with only 10 percent of polled consumers.
The survey has found out that on a global scale, 62 percent of polled consumers find mobile payments appealing, with higher rates among certain groups, such as 75 percent for younger consumers aged 16-24, 75 percent for early adopters and 72 percent for current smartphone owners.
The study has highlighted that on a national scale, developing markets find mobile payment services the most appealing, with 82 percent in China and 73 percent in Brazil. Otherwise, for the more established payment systems in developed markets, like the US and Europe, the appeal for mobile payments is much more limited in these nations with around 50 percent of polled consumers.
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