Security fears still hamper Mobile Wallet Adoption according to new survey from Firstsource

"Fewer than a quarter (22%) of British mobile phone owners are likely to swipe their smartphone like a credit card to make payments, even if they had the relevant app, according to a new survey carried out by YouGov on behalf of outsourcing company Firstsource Solutions. Fears that personal bank details will not be secure are the reason given by 80% of respondents.

A further 20% say that the reason they won’t use a mobile wallet app is that they wouldn’t trust the battery on their smartphone to last. The survey also shows that mobile banking is yet to take off, with only 36% of British smartphone owners saying they have downloaded a mobile banking app. However, the survey does show that 70% of those that have downloaded a mobile banking app rate it as good or excellent." Continue Reading