Accenture Survey Identifies Actions to Increase Consumer Adoption of Mobile Payments

  Accenture Survey Identifies Actions to Increase Consumer Adoption of Mobile

 Adding financial-management tools and rewarding consumers could increase use
                     of mobile phones as payment devices

Business Wire

NEW YORK -- April 25, 2013

Financial incentives and mobile-based financial-management tools could
increase consumers’ use of smartphones as payment devices, according to an
Accenture (NYSE: ACN) survey of 4,000 smartphone users in the United States
and Canada.

More than half of respondents who currently use their smartphones to make
payments said they were highly likely to pay by phone more often if they could
use their phone to track receipts (cited by 60 percent of respondents), manage
their personal finances (56 percent), or show proof of insurance (56 percent)
or of a valid driver’s license (54 percent).

In addition, more than half of those who currently make mobile payments also
said they were highly likely to pay by phone more often if they were offered:
instant coupons from retailers when buying by phone (cited by 60 percent of
respondents); reward points stored on their phone for future purchases at the
store (51 percent); coupons that could be automatically stored on their phone
(50 percent); or preferential treatment, such as priority customer service (50

The same value-added tools and incentives could increase the adoption of
mobile payments among non-users. For instance, about one in three non-users
said they would be more likely to use mobile payments if they could use their
phones as proof of insurance or to track receipts (each cited by 32 percent of
respondents). And about one in five non-users said that they would be more
likely to use mobile payments if they received a preferential treatment at
retailers or coupons for future purchase that could be stored on their phones
(cited by 21 and 20 percent of respondents, respectively).

“Our survey reveals that current users and non-users alike can be incentivized
to use their smartphones to make mobile payments through rewards for usage or
other value-added tools such as receipt tracking,” said Jim Bailey, managing
director and head of Accenture Payment Services in North America. “As
consumers expect their smartphones to improve and simplify their lives,
financial institutions, merchants, mobile network operators and technology
providers should consider incorporating new mobile payment applications to
encourage broad adoption as quickly as possible.”

The survey also found that security concerns are the greatest barrier to
consumer adoption of mobile payments, with 60percent of respondents who do
not use their smartphones for mobile payments citing security concerns as a
reason for not doing so. Privacy issues and the convenience of using cash,
checks or credit cards were the next-most-mentioned reasons, each cited by 37
percent of respondents.

“While the industry is preoccupied with the technology roll-out for mobile
payments, we found that consumers are still very concerned about security and
privacy issues,” said Matthew Friend, managing director, Accenture Payment
Services, North America. “In addition, a significant number still don’t see
the convenience and value of using their phones to make payments. For mobile
payments to achieve widespread adoption, consumers must be educated about the
fact that mobile payments are secure and more convenient than other payment
options. While persuading current users to become more regular users is
clearly important, getting people to use this technology in the first place is
the biggest challenge the industry faces.”


Accenture designed and commissioned an online survey of smartphone owners in
the United States and Canada, which was conducted by Lightspeed Research in
October 2012. Respondents were representative of the population of smartphone
owners in gender, age and income in both countries. The 4,002 respondents
included 3,401 from the United States and 601 from Canada.

About Accenture

Accenture is a global management consulting, technology services and
outsourcing company, with approximately 261,000 people serving clients in more
than 120 countries. Combining unparalleled experience, comprehensive
capabilities across all industries and business functions, and extensive
research on the world’s most successful companies, Accenture collaborates with
clients to help them become high-performance businesses and governments. The
company generated net revenues of US$27.9 billion for the fiscal year ended
Aug. 31, 2012. Its home page is

Accenture Payment Services is a business service within Accenture’s Financial
Services operating group that provides management consulting, technology and
outsourcing services to financial institutions. Its services are designed to
bring significant improvements in core payments, card payments, digital
payments, transaction banking and compliance, risk and operations. Accenture
has supported more than 50 banks worldwide, including some of the largest
institutions, on projects that span the payments cycle and range from
traditional to multi-channel and mobile platforms.


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