Infographic: Gen Z leads in use of mobile payments
Youngest American adults twice as likely to make a mobile payment, study finds
In the United States, Generation Z (ages 18-24) is twice as likely to make a mobile payment as the total population -- 7 percent compared to 3 percent -- according to a GfK study.
That's no surprise really. Generation Z, sometimes called the smartphone generation, lives on their phones. For Gen Z, mobile payments are becoming a part of everyday life.
Of Gen Z consumers surveyed, 53 percent said they had made a mobile payment in the past six months. For baby boomers (ages 50 to 68), the percentage is 14 percent, nearly four times less than the Gen Z rate.
Interestingly, when Gen Z consumers were asked if they feel their "mobile device payments are 100 percent secure," Gen Z (33 percent) lagged just behind Gen Y (36 percent). Both groups, though, are more comfortable with mobile payment security than boomers (10 percent) or Gen X (24 percent).
GfK conducted its 2015 FutureBuy research in 25 countries, with roughly 1,000 respondents per country. The mobile payments research was released in February 2016.
To use the graphic on your site, use the following code:
- Credit card bills are first to go unpaid, Fed finds – When bills must go unpaid now, credit cards are at the top of the list, a Federal Reserve survey finds. That changed during the recession, when credit card bills were paid because they were viewed as a financial lifeline ...
- Small businesses often rely on credit cards, Fed study finds – Credit cards play a major role in financing small businesses, a new Fed survey finds. More than half of small businesses surveyed (51 percent) reported using credit cards for their operations on a regular basis ...
- Who rolls over card debt and pays late? Study finds surprises – Among cardholders who roll over their debt from month to month, age and other financial obligations -- not income and education -- are factors in who pays on time and who pays late, a new Auriemma Consulting Group study finds ...