Digital wallets have a long way to go in building consumer awareness
TweetFollow Us on Twitter

Digital wallets have a long way to go in building consumer awareness

ComScore (www.comscore.com), a company that "measures the digital world," has released the "Digital Wallet Road Map 2013," a study that measures consumer awareness, perceptions and intent to use current digital wallet offerings.

The study found that digital wallets, which store a virtual copy of the contents of a consumer’s physical wallet to facilitate online or offline retail transactions, only had awareness among 51% of U.S. consumers for wallets other than PayPal.

"Digital wallets represent an innovative technology that has not yet reached critical mass among consumers due to a variety of factors, including low awareness and a muddied understanding of their benefits," says Andrea Jacobs, comScore Payments Practice leader. "This study delves deeply into the mindset of consumers with respect to their potential use of digital wallets, in addition to helping size the market opportunity. The study also provides guidance on how digital wallet providers, marketers, developers and retailers can contribute to growing adoption of this technology."

The study is based on a unique research design combining comScore’s opt-in panel of one million U.S. consumers and two separate surveys of more than 2,000 U.S. Internet users conducted in November 2012. To better account for the intent of consumers to use digital wallets, the study first removed the awareness gap that existed between users and prospects by introducing respondents to various digital wallet offerings first-hand.

Consumers are receptive to digital wallets, but require more education of the benefits

The current digital wallet landscape remains fragmented among providers because of low consumer adoption outside of PayPal, with only 12 percent of consumers claiming to have used a digital wallet other than PayPal. However, study results indicated that the digital wallet market opportunity could eventually reach one in two consumers.

One clear barrier to use of digital wallets is that the concept is often difficult to convey and prone to misinterpretation. Even after being asked to review the websites of particular digital wallets, respondents across all wallet brands still scored an average of just 45% in terms of demonstrated level of understanding.

Security remains a top concern that can be addressed more clearly by wallet marketers

The study revealed that security remains a top consumer concern, but that a significant portion of consumers are not aware of security features inherent in digital wallet usage. While 93% of consumers would prefer to use a digital wallet that has to be unlocked before use, an average of just 57% of respondents across the brands studied realized -- after having reviewed the digital wallet website -- that this locking feature was available.

Some digital wallet providers were more successful than others in communicating the availability of this feature, with 71% awareness among Lemon website visitors versus 42% among LevelUp website visitors. The ability to improve communications of features addressing consumer concerns, such as security, could remove an important hurdle to adoption.

"Low awareness, understanding of benefits and availability among retailers are among the key barriers to adoption of digital wallets. While these impediments may seem like a steep hill to climb, we have seen this story play out before in the financial services industry. There was a time when consumers were reluctant to use ATMs for similar reasons, and, today, look at how far we’ve come since the 1970s and 1980s," adds Jacobs. "It would seem that the future is bright for digital wallets, but it will require deliberate execution of strategies such as sound marketing for this technology to realize its full potential. In order to win over consumers, wallet marketers, providers, developers and retailers must work together to address each of the aforementioned barriers."

The Digital Wallet Road Map 2013 is a report based on comScore’s research panel of one million U.S. consumers and attitudinal insights gained from two comScore surveys of over 2,000 U.S. online consumers, each conducted in November 2012. For more info go to http://www.comscore.com/digitalwallet2013 .

 

Community Search:
MacTech Search:

Software Updates via MacUpdate

Apple Pro Video Formats 2.0.1 - Updates...
Apple Pro Video Formats brings updates to Apple's professional-level codes for Final Cut Pro X, Motion 5, and Compressor 4. Version 2.0.1: Support for the following professional video codecs Apple... Read more
Maya 2015 - Professional 3D modeling and...
Maya is an award-winning software and powerful, integrated 3D modeling, animation, visual effects, and rendering solution. Because Maya is based on an open architecture, all your work can be scripted... Read more
EtreCheck 2.2 - For troubleshooting your...
EtreCheck is a simple little app to display the important details of your system configuration and allow you to copy that information to the Clipboard. It is meant to be used with Apple Support... Read more
OmniOutliner Pro 4.2 - Pro version of th...
OmniOutliner Pro is a flexible program for creating, collecting, and organizing information. Give your creativity a kick start by using an application that's actually designed to help you think. It's... Read more
VLC Media Player 2.2.1 - Popular multime...
VLC Media Player is a highly portable multimedia player for various audio and video formats (MPEG-1, MPEG-2, MPEG-4, DivX, MP3, OGG, ...) as well as DVDs, VCDs, and various streaming protocols. It... Read more
Nisus Writer Pro 2.1.1 - Multilingual wo...
Nisus Writer Pro is a powerful multilingual word processor, similar to its entry level products, but brings new features such as table of contents, indexing, bookmarks, widow and orphan control,... Read more
Tinderbox 6.2.0 - Store and organize you...
Tinderbox is a personal content management assistant. It stores your notes, ideas, and plans. It can help you organize and understand them. And Tinderbox helps you share ideas through Web journals... Read more
OmniOutliner 4.2 - Organize your ideas,...
OmniOutliner is a flexible program for creating, collecting, and organizing information. Give your creativity a kick start by using an application that's actually designed to help you think. It's... Read more
calibre 2.25.0 - Complete e-library mana...
Calibre is a complete e-book library manager. Organize your collection, convert your books to multiple formats, and sync with all of your devices. Let Calibre be your multi-tasking digital librarian... Read more
Things 2.5.4 - Elegant personal task man...
Things is a task management solution that helps to organize your tasks in an elegant and intuitive way. Things combines powerful features with simplicity through the use of tags and its intelligent... Read more

Lifeline... (Games)
Lifeline... 1.1 Device: iOS Universal Category: Games Price: $2.99, Version: 1.1 (iTunes) Description: Lifeline is a playable, branching story of survival against all odds. Using your iPhone, iPad, or Apple Watch, you will help... | Read more »
Pandemic: The Board Game Has Gone Univer...
Don't let the virus win! Now you can download Pandemic: The Board Game, by F2Z Digital Media, for all of your iOS devices. The app is based on the fantastic board game by Z-man games. As employees of the CDC, you and your friends will have to work... | Read more »
Get Ready to Read Bloomberg Business on...
Fans of Bloomberg Business will soon be able to get all their news on the Apple Watch. The app lets you get the top headlines on your main screen and bookmark stories to read later. Using the motion detection in the Apple Watch, the headlines are... | Read more »
Watch This Homerun is Batting for the Ap...
Eyes Wide Games' Watch This Homerun is purportedly the first sports game coming to the Apple Watch, where you'll be up to bat as the pitcher tries to out-manuever you with fastballs, curveballs, and changeups. Using one-touch controls you can try to... | Read more »
Field Trip Can Take You on a Guided Tour...
Field Trip, by Google’s Niantic Labs, is an exploration app that gives you details about the awesome places you can discover wherever you find yourself. The app can show you local history, delicious restraunts, the best places to shop, and places to... | Read more »
Watch Your Six - SPY_WATCH is Infiltrati...
SPY_WATCH, by Bossa Studios, is a new game designed for the Apple Watch. Runmor has it your spy agency has fallen out of favor. To save it, you'll need to train-up a spy and send them on missions to earn you a stunningly suspicious reputation and... | Read more »
Both Halo: Spartan Assault and Halo: Spa...
Halo: Spartan Assault and Halo: Spartan Strike, by Microsoft, have officially landed on the App Store. Spartan Assault pits you against the Covenant with missions geared to tell the story of the origin of Spartan Ops. In Spartan Strike you'll delve... | Read more »
The Apple Watch Could Revolutionize the...
It’s not here yet but there’s that developing sneaky feeling that the Apple Watch, despite its price tag and low battery life, might yet change quite a lot about how we conduct our lives. While I don’t think it’s going to be an overnight... | Read more »
Mad Skills Motocross 2 Version 2.0 is He...
Mad Skills Motocross 2 fans got some good news this week as Turborilla has given the game its biggest update yet. Now you'll have access to Versus mode where you can compete against your friends in timed challenges. Turborilla has implemented a... | Read more »
Kids Can Practice Healthy Living With Gr...
Bobaka is releasing a new interactive book called Green Riding Hood  in May. The app teaches kids about yoga and organic style of life through mini-games and a fun take on the classic Little Red Riding Hood fairy tale. | Read more »

Price Scanner via MacPrices.net

Sale! 15-inch Retina MacBook Pros for up to $...
 MacMall has 15″ Retina MacBook Pros on sale for up to $255 off MSRP. Shipping is free: - 15″ 2.2GHz Retina MacBook Pro: $1794.99 save $205 - 15″ 2.5GHz Retina MacBook Pro: $2244.99 save $255 Adorama... Read more
New 2015 MacBook Airs on sale for up to $75 o...
Save up to $75 on the purchase of a new 2015 13″ or 11″ 1.6GHz MacBook Air at the following resellers. Shipping is free with each model: 11" 128GB MSRP $899 11" 256GB... Read more
Clearance 13-inch Retina MacBook Pros availab...
B&H Photo has leftover 2014 13″ Retina MacBook Pros on sale for up to $250 off original MSRP. Shipping is free, and B&H charges NY sales tax only: - 13″ 2.6GHz/128GB Retina MacBook Pro: $1129... Read more
Clearance 2014 MacBook Airs available startin...
B&H Photo has clearance 2014 MacBook Airs available for up to $200 off original MSRP. Shipping is free, and B&H charges NY sales tax only: - 11″ 128GB MacBook Air: $729 $170 off original MSRP... Read more
16GB iPad mini 3 on sale for $349, save $50
B&H Photo has the 16GB iPad mini 3 WiFi on sale for $349 including free shipping plus NY sales tax only. Their price is $50 off MSRP, and it’s the lowest price available for this model. Read more
Mac minis on sale for up to $75 off, starting...
MacMall has Mac minis on sale for up to $75 off MSRP including free shipping. Their prices are the lowest available for these models from any reseller: - 1.4GHz Mac mini: $459.99 $40 off - 2.6GHz Mac... Read more
Taichi Temple First Tai Chi Motion Sensor App...
Zhen Wu LLC has announced the official launch of Taichi Temple 1.0, the first motion sensor app for Tai Chi, offering a revolutionary new way to de-compress, relax and exercise all at the same time.... Read more
CleanExit – Erase your Hard Drive Quickly, Se...
CleanExit works on both Macs and PCs, securely and permanently deleting all files from any type of hard drive, flash-based drive or camera media card making the files permanently unrecoverable.... Read more
250 iPhone 6 Tips eBook Released for $1.99
Bournemouth, UK based iOS Guides has released 250 iPhone 6 Tips, a new eBook available in the iBookstore that reveals a wealth of tips and tutorials for iPhone 6 and iPhone 6 Plus. Priced at $1.99,... Read more
TigerText Introduces First Secure Enterprise...
TigerText, a provider of secure, real-time messaging for the enterprise, has announced the launch of TigerText for the Apple Watch. TigerText for the Apple Watch enables users to securely send and... Read more

Jobs Board

*Apple* Solutions Consultant - Retail Sales...
**Job Summary** As an Apple Solutions Consultant (ASC) you are the link between our customers and our products. Your role is to drive the Apple business in a retail Read more
*Apple* Solutions Consultant - Retail Sales...
**Job Summary** As an Apple Solutions Consultant (ASC) you are the link between our customers and our products. Your role is to drive the Apple business in a retail Read more
DevOps Software Engineer - *Apple* Pay, iOS...
**Job Summary** Imagine what you could do here. At Apple , great ideas have a way of becoming great products, services, and customer experiences very quickly. Bring Read more
*Apple* Pay - Site Reliability Engineer - Ap...
**Job Summary** Imagine what you could do here. At Apple , great ideas have a way of becoming great products, services, and customer experiences very quickly. Bring Read more
Sr. Technical Services Consultant, *Apple*...
**Job Summary** Apple Professional Services (APS) has an opening for a senior technical position that contributes to Apple 's efforts for strategic and transactional Read more
All contents are Copyright 1984-2011 by Xplain Corporation. All rights reserved. Theme designed by Icreon.