A study released by global payment giant MasterCard Worldwide found that consumers, especially younger consumers, are ready to trade their wallets for their phones. According to the survey, 62 percent of Americans with cell phones would be open to using mobile devices to make purchases.

"Consumers are already living a mobile lifestyle, so using their phones to make payments on a daily basis is a natural next step," said Mung Ki Woo, MasterCard's group executive for mobile.

Among the study's findings, younger mobile users are more at ease with the idea of using a smartphone to make a purchase. The study reported that 63 percent of those between 18 and 34, what the study calls the "mobile generation," are ready to adopt mobile payments. Only 37 percent of consumers over 35 said they would be comfortable making a payment using their mobile devices. Additionally, 65 percent of the 18-34 group said they felt "more naked without their phones than their wallets" versus 34 percent of those over 35.

The study also looked at how gender affects consumers' perception of mobile payments. The survey showed men are more comfortable using their mobile devices to make purchases (51 percent vs. 40 percent). However, the study said 50 percent of women feel "more exposed" without their mobile device than their wallets versus only 36 percent of men. Forty-five percent of women said they would rather have their phones than their wallets surgically attached so they would always remember to take them along.

Even as enthusiasm for mobile payments is growing, MasterCard's survey said security and privacy remain big concerns for consumers. According to the study, 62 percent of respondents said they would need confirmation that personal data is safe before being comfortable making a payment with a mobile device.

The survey was conducted for MasterCard by Kelton Research from April 15-22.