Mobile Payments Interview with KNX Radio Los Angeles
On Tuesday, March 10, 2015 CreditCards.com Senior Industry Analyst Matt Schulz spoke with Tom Haule of KNX Radio Los Angeles. The topic: a CreditCards.com survey on mobile payments that showed that most Americans haven’t bought in to mobile payments just yet. The interview and transcript are below.
Tom Haule: A new survey finds most Americans are still reluctant to use their smartphones to buy things. Apple Pay, Google Wallet, any other approach appeals to no more than one in five of those surveyed. Matt Schulz, of the group that did the survey, CreditCards.com.
Matt Schulz: What we found is that about two-thirds of Americans say that they would never or they would hardly ever use their cellphone to make a purchase. And I think it basically comes down to two things: it’s convenience and it’s security. People have been so accustomed to using credit cards for so long that people still need to be convinced that it’s as easy as using a card and that it’s safe.
Haule: Dig a little deeper into the survey and you find some interesting differences among the respondents.
Schulz: Hispanics are actually the most likely to use mobile payments and there’s plenty of data out there that shows that Hispanics households are the most likely to not have a landline and that Hispanics have been really likely to adopt technology more quickly. So we found that that was an interesting piece of data.
Haule: Also, geographically it turns out that mobile payments is more accepted in the south than it is here in the west.
Schulz: That was one struck us as well and I think that that again might be attributable to the Hispanic population because Texas and Florida, two states obviously with large Hispanic populations, are considered Southern states in the survey. So I think that might go a long way to explaining that.
Haule: Schulz also said here in the west when you get out of the cities, despite the presence of Silicon Valley and Microsoft in Washington, you still find a lot of conservative ideas.
Schulz: A large part of the west is a little more sparsely populated, maybe a little less tech savvy, when you get out kind of from the big cities and into places like Wyoming and Utah and places like that. So that might help explain that a little bit.
Haule: And not surprisingly, younger people are much more willing to use mobile pay than our senior citizens.