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Consumers are open to a variety of electronic-wallet business models, but what they want most is for their primary financial institutions to offer them.
This observation comes from the "2012 Consumer Payments Preferences and Usage Study: E-wallet Opportunities and Challenges," which was released this week by Phoenix Payments, a Phoenix Marketing International company.
The study reveals consumer preferences and attitudes about e-wallets, as well as their use (or willingness to use) three different business models of e-wallets: Tap-and-Pay; the Paypal model; and a financial app for a smartphone or tablet device. Findings from the study including the following:
"There is clear early demand for these services, and a clear willingness to obtain them through existing financial relationships," said Leon Majors, president of Phoenix Payments. "But providers need to narrow the focus to the key services consumers wish to attach to these products."
The annual Consumer Payments Preferences Study was conducted online in August 2012, and surveyed slightly more than 4,200 consumers in a representation of the online U.S. population stratified on an age/income census distribution.
For more on this topic, visit the trends/statistics research center.
graphic courtesy of Phoenix Payments