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Why We Are Still Reaching for Wallets, Not Phones, at the Checkout

Why We Are Still Reaching for Wallets, Not Phones, at the Checkout

April 8, 2016

Via: itCurated

Image Credits: Engadget

Phone and software makers, including Apple, Google and Samsung, are getting involved in mobile payments to make their products more useful and attractive to their owners.

Behind all this is the belief that consumers will discover the benefits of paying with their phones — and then use them more often as a payment method.

Yet this is happening slowly. A tiny percentage of in-store sales are made with phones. In the United States, an estimated $8.7 billion in purchases were made with phones in 2015, according to a survey by eMarketer, a research firm.

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