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PWC Consumer Intelligence Series Mobile Wallet
PWC Consumer Intelligence Series Mobile Wallet
Intelligence
Series:
Opening the
Mobile Wallet
I.
Series overview
II.
Executive Summary
Imagine running errands with nothing but your smartphone. Stop for a
coffee, and pay with your phone. At the pharmacy, your prescription plan
appears on your screen for the pharmacist to scan. While grocery shopping,
coupons pop up for products you like and use. At the bookstore, you flash
your membership card simply by holding
ding up your phone.
That day is already here. Mobile wallets let consumers store everything from
their credit and loyalty cards to their personal information in one organized,
accessible place their smartphone.
But while consumers are highly aware of mobile
bile applications like PayPal
Mobile, Google Wallet,, Starbucks, and Square, and find the convenience and
money-saving
saving incentives appealing, many are holding back from using mobile
wallets because of security and privacy concerns. Consumers worry about
theirr liability if the phone is lost, stolen or otherwise compromised, and
express significant concern that their smartphone will become a greater target
for theft if it evolves into a mobile wallet. While consumers love the idea of
using mobile wallets for low-risk,
risk, easily replaceable items like loyalty and
membership cards, coupons, and paperless tickets, they are less comfortable
with storing cash on their mobile phones, or using them for highly personal
items like social security cards or electronic
nic keys to their car or home.
III.
Key findings
PwC
50%
PayPal
83%
Google Wallet
9%
Starbucks
15%
MasterCardPayPass
7%
Square
8%
V.me by Visa
2%
ISIS
1%
100%
100%
50%
44%
39%
32%
20%
16%
Total Usage
Total Awareness
Page 3 of 12
43%
24%
23%
17%
PwC
45%
Page 4 of 12
66%
58%
57%
56%
46%
31%
PwC
Page 5 of 12
PwC
67%
57%
57%
41%
Saves
money
36%
Use for
It's more Saves time Allocate /
To
loyalty card, convenient
track moneydetermine
coupons, id,
physical
proof of
location
insurance
32%
Tell my
friends /
recommend
Page 6 of 12
PwC
Page 7 of 12
85%
84%
80%
79%
74%
6.
55%
31%
PwC
58%
76%
Page 8 of 12
89%
88%
85%
77%
Ability to wipe
Had
Get
4 Digit PIN
phone
sophisticated replacement
remotely
security
immediately
7.
75%
PwC
A quasi-governmental entity
Retailer
No preference
None
40%
22%
18%
20%
60%
80%
100%
35%
50%
12%
3%
9%
3%
8%
1%
5%
2%
2%
1%
1%
4%
1%
1%
6%
6%
5%
9%
Most Capable
Most Trustworthy
Page 9 of 12
PwC
77%
73%
69%
24%
13%
Health Insurance ID
16%
Credit Card
13%
Driver's License
Cash
Page 10 of 12
IV.
1.
PwC
Page 11 of 12
2013 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the United
States member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see
www.pwc.com/structure for further details.
This document is for general information purposes only, and should not be used as a substitute for consultation with professional
advisors.