Mobile payment security concerns of U.S. consumers 2015

This statistic provides information on the mobile payment security concerns in the United States in 2015. It was found that 25.1 percent of U.S. adults were afraid of getting their phone hacked or their data getting intercepted by someone.

Mobile payment security – additional information

Mobile payment, which refers to payment services via mobile devices, is a growing phenomenon all over the world. In 2014, mobile payments in the U.S. amounted to more than 51 billion U.S. dollars, with remote payments accounting for majority of the payment transactions. By 2019, this figure is expected to increase to more than 140 billion U.S. dollars. Proximity mobile payments in particular are considered one of the most successful types of mobile payments, as their transaction value is projected to reach 210 billion U.S. dollars by 2019.

In terms of users, mobile payment is particularly popular between college-educated individuals. About 37 percent of mobile payment users in the U.S. have bachelor’s degree or higher. Americans between 30 and 44 years old are also more likely to use mobile payment. They account for nearly 40 percent of all mobile payment users in the U.S, while young users aged between 18 and 29 years old correspond to 35 percent of all users.

Despite the popularity of mobile payment in the U.S. and market growth projections, there are still several security concerns about it. According a survey conducted by GfK, about 20 percent of American adults affirmed their main security concern in regards to mobile payment is the possibility of someone intercepting their payment information or other data, while about 13 percent feared their phones being hacked. Other common mobile payment security concerns amongst Americans are the possible misuse of information of companies, along with the possibility of losing their phone or having their phone stolen, and getting a malware or viruses.

Mobile payment security concerns in the United States in 2015

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Source

Release date

March 2016

Region

United States

Survey time period

November 4 to 23, 2015

Number of respondents

2,244 respondents

Age group

18 years and older

Supplementary notes

Multiple answers were possible.

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