{"id":60988,"date":"2015-02-27T08:02:00","date_gmt":"2015-02-27T04:02:00","guid":{"rendered":"http:\/\/localhost\/?p=60988"},"modified":"2015-02-27T08:02:26","modified_gmt":"2015-02-27T04:02:26","slug":"whats-keeping-consumers-from-paying-with-their-smarthones","status":"publish","type":"magazine","link":"https:\/\/brainstation.io\/magazine\/whats-keeping-consumers-from-paying-with-their-smarthones","title":{"rendered":"What&#8217;s Keeping Consumers from Paying with Their Smarthones"},"content":{"rendered":"<p><img decoding=\"async\" style=\"margin: 11px 22px; float: right;\" src=\"https:\/\/farm9.staticflickr.com\/8643\/16663617015_1874b1f9b4_o.png\" alt=\"\" width=\"300\" height=\"170\" \/>The promise of mobile, digital wallets on our smartphones has been in the works for years. Now the technology is here.<\/p>\n<p><!-- pagebreak --><\/p>\n<p>But consumers, for the most part, still aren&#8217;t biting.&nbsp; Only 4 percent of US consumers have tried Apple Pay, for example, <a href=\"http:\/\/www.walkersands.com\/futureofretail\" target=\"_blank\">according to Walker Sands&#8217; 2015 Future of Retail Study<\/a>. What gives?<\/p>\n<p>Turns out consumers still harbour a lot of reservations about this idea of an all-digital payments world. 60% of consumers use no mobile payment applications&mdash;not even Passbook or a retailer&#8217;s app, like Starbucks&#8217;. This is because 57% of consumers are worried about security concerns and half fret over privacy concerns.<\/p>\n<p>&#8220;Consumers consider mobile wallets and apps the least secure form of payment, even ranking behind cryptocurrencies such as Bitcoin,&#8221; the report reads. &#8220;Only 1 percent of consumers think smartphones are the most secure form of payment, compared to 56 percent who say cash ranks No. 1.&#8221;<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" style=\"display: block; margin-left: auto; margin-right: auto;\" src=\"https:\/\/farm9.staticflickr.com\/8632\/16477466959_3edc7554e8_o.png\" alt=\"\" width=\"485\" height=\"384\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>There are other issues, too, like how accepting payments from smartphones still isn&#8217;t mainstream: 26% of consumers say such methods aren&#8217;t accepted at enough retail locations while 25% aren&#8217;t convinced it&#8217;s more convenient than other methods of paying. Finally, 23% believe the issue likes on the retailer end, with stores simply not being prepared for this technology.<\/p>\n<p>&#8220;The transition to mobile payments might not be smooth,&#8221; the Walker Sands report reads. &#8220;Apple and other leaders in the mobile payment space will need to overcome several consumer concerns before smartphone payments compete with the convenience of credit cards.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The promise of mobile, digital wallets on our smartphones has been in the works for years. Now the technology is here. But consumers, for the most part, still aren&#8217;t biting.&nbsp; Only 4 percent of US consumers have tried Apple Pay, for example, according to Walker Sands&#8217; 2015 Future of Retail Study. What gives? Turns out [&hellip;]<\/p>\n","protected":false},"author":55555,"featured_media":60990,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"magazine-region":[],"magazine-series":[],"magazine-topic":[],"class_list":["post-60988","magazine","type-magazine","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/60988","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine"}],"about":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/types\/magazine"}],"author":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/users\/55555"}],"version-history":[{"count":0,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/60988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media\/60990"}],"wp:attachment":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media?parent=60988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/categories?post=60988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/tags?post=60988"},{"taxonomy":"magazine-region","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-region?post=60988"},{"taxonomy":"magazine-series","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-series?post=60988"},{"taxonomy":"magazine-topic","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-topic?post=60988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}