Accenture has a interesting new 2015 North America Consumer Digital Payments Survey (pdf) of 4,000 consumers tracking trends in consumer attitudes toward making payments today and in the future. While the report pertains to North America, the conclusions and mobile-specific implications are probably just as applicable to the rest of the World.
A relatively low 18% of consumers make mobile payments regularly. Those who do, tend to be high-income (38%) or millennials (23%). People are using cash, debit cards and cheques at about the same level as last year and, despite Apple and Google mobile payment initiatives, there hasn’t been any significant upswing in usage of digital payments. The few people using digitial payments tend to be using Paypal (16%) or paying via retail mobile payment apps (14%).
I believe the main problem is that people are continuing to use the payment methods they habitually use and more importantly trust. What does this mean for mobile developers incorporating newer payment methods into apps?
It’s all about trust and motivation. As the report mentions, we should be providing assurances that fraud will be covered and keep the buyer informed about account activity, payment and order execution. We should also be considering discount pricing, coupons and rewards points to provide incentives for buyers to switch from their tried and trusted payment methods.