Mobile consumers are interested in using their phones for transactions, but those transactions don’t necessarily include mobile payments.
I just came across some interesting research from TSYS in its 2013 Consumer Payment Choice Study.
The third annual study looks at consumer payment preferences, primarily dealing with credit and debit cards. But deep inside the study is one question that provides some insight around mobile transactions and payments.
What I find interesting is not only what consumers are interested in but also what does not interest them, even though there are no majorities in any case.
In the category of “very interested,” many consumers lean toward practical, day-to-day functions, some of which would use the phone to quickly stop a transaction. Here’s where consumer fall in the “very interested” category:
And then there is what many consumers don’t want to do. These include making small purchases and using mobile wallets. Here’s where consumers fall in the “not interested” category.
While many consumers are interested in using their phones for transactions, the way most will use them is still to be determined.