The Pew Charitable Trust is an independent non-profit organisation dedicated improving public policy through rigorous analysis in diverse areas including consumer policy.
The Trust has undertaken extensive research on mobile payments in the US.
The survey analyses the consumer experience with mobile payments. It concludes that 46% of US adults have made a mobile paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More, i.e. have used a mobile to make a purchase, pay a bill or send or receive moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More.
The survey highlights two hurdles to widespread adoption. Firstly safety concerns, which include the potential for identity theft and the loss of funds. More surprisingly, the use of cashMoney in physical form such as banknotes and coins. More is cited as the second barrier, across all age groups, because cash cannot be easily uploaded on a mobile.
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