A new study found that college students are still not sure about mobile payments. The April survey from Balance Innovations showed that 42% of the 2,503 students who responded would “probably not” or would “definitely not” use mobile payments.
Another 42% said that using mobile payments would depend on the retailer or purchase, while just 16% said they use mobile payments all the time.
“Because they are frontrunners of technology and avid smartphone users, we anticipated higher interest in the use of mobile payment among these 18- to 24-year-olds,” said Steve Rempel, president and CEO of Balance Innovations.
The survey also found that 21% of men said they would likely switch to mobile payments when they become widely available, compared to just 12% of the female students who responded. Students with majors such as accounting or business administration were more likely to use mobile payments, while students in the Midwest were less likely to use their phones to pay for purchases than students on either coast.