Comfort Using Mobile Wallets Grows Sharply in 1H 2022

Comfort Using Mobile Wallets Grows Sharply in 1H 2022

July 28, 2022

Consumers are becoming increasingly comfortable making mobile payments using digital wallets. In the first half of 2022, according to a recent survey, nearly 60 percent of all consumers used a mobile wallet to make a payment at least once a week, compared to 46 percent a year ago.

The 1H 2022 ACI Speedpay Pulse consumer survey from payments processor ACI Worldwide found growth in a number of mobile payment categories including the percentage of consumers who report using mobile wallets to store non-payment items like loyalty cards, tickets, identification and billing statements (more than 39 percent vs. only 25 percent in 2021.

“New habits and attitudes are still emerging, but the ones we see so far signal a huge opportunity for companies to double down on transforming and modernizing their billing experiences,” said Sanjay Gupta, head of Billers for ACI Worldwide. “Diversifying with new channels and the payment methods consumers want is important. However, remaining agile to more quickly respond to future changes in their preferences is equally critical. This may soon emerge as a crucial long-term competitive advantage.”

The survey, which focused on bill payments, also found that while billers’ websites remain the most popular bill payments channel across all generations (preferred by nearly a third of consumers polled), those who prefer mobile apps to pay their bills rose from 10 percent last year to nearly 15.5 percent in the first half of 2022.

Previous-Article-CNP  Next-Article-CNP

Merchant Guide to Mobile Fraud


  • Share this Article:
DJ Murphy

Lastest Fraud News