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MasterCard Survey Says 62% Open to Mobile Payments

Sat May 21, 2011 - 10:17 PM EDT - By Annie Latham

According to a new survey by MasterCard Worldwide. The study, conducted by Kelton Research, shows 62 percent of Americans who use a mobile phone would be open to using their device to make purchases wherever their errands may take them.

The results indicate that younger generations, in particular, will drive the demand for mobile payments:

> 63 percent of 18-34 year olds would be at ease using mobile phones to make purchases versus those age 35 or older (37 percent).

> Consumers ages 18-34 (65 percent) feel more naked without their phones than their wallets, compared to 34 percent of those in the 35 and older group.

Another key finding had to do with perception. According to the study, consumers value mobile phones not just for the functions they can perform, but for what they say about them too. Over half (54 percent) of respondents think that someone's phone is more telling of their personality than their wallet.

Actually, this part isn't too surprising.

The survey also addressed gender trends:

> More men than women (51 percent vs. 40 percent) who have a mobile phone would be at ease using it to make purchases.

> More men than women (49 percent vs. 45 percent) would be impressed by someone who paid a bill with a mobile application than with a credit card.

The MasterCard Mobile Survey was conducted by Kelton Research between April 15th and April 22nd 2011 via email invitation and an online survey. Quotas are set to ensure reliable and accurate representation of the total U.S. population ages 18 and over.


Source: MasterCard

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