If you’re reading IntoMobile from time to time, the chances are you’re familiar with the mobile wallet services. The good news is that this concept will soon reach the mainstream users with more and more people recognizing what it stands for and how it works. In Canada, 56% of users of mobile banking apps (nearly 4 million people) are aware of an upcoming service that would allow them to swipe their phone to pay for goods and services at check out, according to results from our Digital Life Canada Survey. That’s up from 47% a year earlier.
The same user group, which BTW represents 36% of all Canadian smartphone users, is “very” satisfied with the mobile banking app they use the most – 67%, up from 63% the year prior.
The same research shows that simple awareness of the mobile wallet concept translates into usage intent with survey participants citing convenience, speed and the promise that it would mean they would have to carry fewer things with them as the primary reason among 63% of respondents.
On the other hand, many respondents also expressed an underlying concern about security, wanting to know more about the service before they commit to trying it.
In terms of service providers, chartered banks like TD and BMO are preferred by the respondents with a trust score of 7.5. Credit card companies like American Express, Visa and MasterCard are second at 7.0; mobile phone manufacturers scored 6.7; retailers like Canadian Tire, Home Depot and Wal-Mart – 6.5, and mobile operators like Rogers, Bell and Telus scored 6.4.
The survey was conducted in spring 2012, involving 1,000 Canadian consumers.