If you’re considering the forces shaping the future of your bank and the banking industry—and you should be—keep an eye on the “digital disrupters.”
Browsing: Mobile payments
Consumers are turning to mobile payments options for speed and convenience, though many have concerns about the security of their personal information, according to a new issue brief by the Pew Charitable Trusts.
For those who use mobile payments, PayPal and Apple Pay are top choices.
Trust in nonbank payment providers fell by half from 2014 to 2015.
More than half of consumers consider it risky or very risky to pay through a mobile app.
An overwhelming majority — 75 percent — of consumers trust their banks most to keep their payments safe, according to a recent ABA survey conducted by Ipsos Public Affairs.
Mobile banking is rapidly moving to near-universal availability, but customer uptake rates remain relatively low, according to a newly released survey from the Federal Reserve Banks of Atlanta, Boston, Dallas, Minneapolis and Richmond.
Only 2 percent of Americans use mobile wallets such as Apple Pay and Google, according to a recent report from Gallup.