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Infographic: Gen Z leads in use of mobile payments

Summary

Americans ages 18 to 24 are twice as likely to make a mobile payment, a GfK study finds

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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.

 

See related:  Millennials most likely to fall prey to online and phone fraudmore infographics

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