Mobile wallet usage spikes
Wallets are definitely getting lighter this holiday season, especially as more shoppers use mobile wallets. Nearly one quarter of consumers (24.2%) currently use mobile wallets, and 48.5% plan to make a gift purchase with their digital wallet this holiday season. Further, more than two thirds (69.6%) of wallet users indicated they would use their mobile wallets even more if more merchants allowed them to pay that way. These details were shared in the “Capital One Wallet Survey,” a study that tapped more than 1,800 people between Nov. 3-14, 2016. Adoption of mobile wallets is so rapid that 63% of these shoppers have been using the technology for less than one year, and they continue to expand their retail usage. Nearly half (49.2%) of mobile wallet users use their mobile wallets at retail stores, specifically, at grocery stores (41%), fast food restaurants (36.8%), drug stores (25.7%), and for travel related […]
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