Study Shows Slow Adoption Rate of Digital Wallets Due to Lack of Understanding

Discussion in 'Android News' started by dgstorm, Feb 4, 2013.

  1. dgstorm
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    dgstorm Editor in Chief Staff Member Premium Member

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    Supposedly a new study indicates that a bright future is in store for digital wallet services, like Google Wallet and ISIS, but for now the adoption rate is still slow due to a perception problem. The study from ComScore concludes the primary problem with the slow adoption of digital wallets is that people don't understand the concept yet, or they don't fully understand the benefits. The other factor is simply lack of awareness of the tech altogether. Only 51% of U.S. consumers are even aware of the technology, and only 12% of the folks who know about it have actually used it. Here's a quote with some additional detail,

    What do you guys think of the concept of digital wallets? The most common complaint is security issues, yet a way to digitally pay for your meal at a restaurant without having to give your card to a "complete stranger," should be far more appealing in theory. What do you guys think of the analogy comparing digital wallets to ATM cards? Does it hold water?

    Thanks for the tip!

    Source: CNET
    Last edited: Feb 4, 2013
  2. ntrddragn
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    ntrddragn New Member

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    Slow adoption cuz ppl don't know about it period. Google doesn't do a good job at "marketing" the concept. And we have vzw blocking the concept. If this was on an iPhone they would market the hell out it. I mean the made a commercial for noise cancelation mic for goodness sake.

    Google doesnt market how safe it is also since ppl r concern about security. I did saw a video how someone grab the cc # off of a lot of ppl with the pay pass credit card without seeing their card. He just tap their wallet or purse and was able to grab it. And they were told to call the cc company to never send them a cc like that again. Or were instructed to remove the magnet chip.
  3. jstafford1
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    jstafford1 DF Super Moderator Rescue Squad

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    I would use it but I live in the 1900's it seems here in central Ohio.

    Sent from Democles Base.
  4. johnomaz
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    johnomaz Well-Known Member

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    I have no plan on using it because if you happen to lose your phone, the battery dies or it breaks, you are out of luck. You may have the actual plastic cards at home somewhere, but if they are at home and your phone gets stolen at a bar, you're out of luck. I'm not talking about the thief spending your money, but you no longer have a means to pay for anything. There are times where my phone will randomly eat through its battery in a few hours when normally I can have it on for 15 hours of use and have 30% when I go to bed. Also, very few places take the NFC payment methods. Also, what is the big deal with using NFC anyways? I forget the credit card company that put an NFC chip in their cards so you could tap and not swipe it and it never caught on. Now I have to get my phone out, unlock it, open the app, hope your data connection is good and then tap your phone. Or I could get my wallet out and swipe my card.

    I just don't see it as an easier or more efficient method of payment. I see it as a novelty, a conversation starter for your inner nerd. I get this is just my opinion, but checks came out because cash was inconvenient. Imagine carrying $5000 to BestBuy to buy something. A check was easier. Now, credit cards/debit cards came out because personal checks took forever in lines. I think using your phone is a step backwards in efficiency. I'd rather have a single card that has a flexible display on it (hurry up Samsung) where you could touch which account you want to use and either tap it via NFC or swipe it. No having to log in, nothing. Use a finger print reader so it knows its you before the purchase and use wireless charging tech at home to charge it. But even that would have draw backs.
  5. kodiak799
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    kodiak799 Well-Known Member

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    Yeah I think there are a lot bigger reasons for slow adoption. #1 how widespread is it even at retailers? If it's anything much less than 95% then you still need to carry a CC so why bother?

    Not sure about losing it since you could lose your wallet (although I'm far less likely to put my wallet on the table and leave it there where I forget it). Security I'm not so sure about, but there's also not a massive number of people doing online banking (especially for people over 40/50).

    The battery dying is a great point.

    But as far as convenience goes, this isn't any great saver. I still need my wallet for my license and petty cash (and a few insurance cards). So it's no big deal to carry a CC, and it's awfully quick and easy to swipe a CC (no pin).

    Anyway, until it's acceptable everywhere (including airport security and the cops) to have a digital license on your phone, and the medical info (which I guess you could do) this tech is going nowhere. It has to be the WHOLE wallet, with everything accepted almost everywhere.
    Last edited: Feb 4, 2013
  6. Dusty
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    Dusty Premium Member Premium Member

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    Credit cards weren't accepted everywhere overnight. Think of it as an added convenience that is there when you choose to use it. Why is that so bad?

    As far as losing it... you can say the same thing about losing your wallet. At least with this they have to hack it to have any chance of getting any useful data, unlike your wallet where all a person has to do is open it and pull out your license and credit card.

    Just like you carry cash for when you can't use a credit card this could just be an alternative. I use it quite often, by the way, when I stop at a 7-ll probably 3-4 times a week.

    I like it.
  7. kodiak799
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    kodiak799 Well-Known Member

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    Like I said, as long as we need a physical wallet for something or something else, there's absolutely no inconvenience related to a CC that can be improved upon. In that regard, and some others, digital wallets are an inferior alternative. That's the main reason adoption has been so slow and will be a long time before it's more than a novelty.
  8. bazar6
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    bazar6 Premium Member Theme Developer Premium Member

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    I'd be up for adopting it if retailers said theywill eventually adopt the technology. But they aren't because there's so many choices (Paypal, Wallet, ISIS, PayPass, etc), if they need to have a scanner for each platform, then thats a ton of money to try to make everyone happy; so wait it out for an industry standard (like what happened with HD-DVD vs BluRay)

    And I think more people have used the Google Wallet software more ofen than they realize because you have to use it when you purchase anything through the Play Store... that may have been different than what the study was looking at, and it's most probably Google's fault for not branding and pushing Wallet more than it currently is.
  9. dezymond
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    dezymond Tech Support Mod Staff Member Premium Member

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    I did try it once and it was convenient, but if I happen to lose my phone I don't want to lose my "wallet" either:D That's my main concern, it's bad enough I've lost my phone, I don't want the added stress of contacting my CC companies.
  10. ntrddragn
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    ntrddragn New Member

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    i used mine quite often before. I stop using it after switching ROMs and constantly having to use the work around since it was blocked by vzw. I got annoyed and worried that it wouldnt work when i go to use it. So I just stop.

    I'll just wait until the iPhone has it and then it would be more acceptable to use it. LOL

    here is the video i was speaking of..stuff like this would scare lots of ppl.

  11. Dusty
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    Dusty Premium Member Premium Member

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    The video is kind of misleading in the fact that the information that they stole is the exact same info a store clerk gets with every transaction. You essentially hand that info out DAILY. If you think that a company's hiring process is a line of consumer defense just google "waiter or clerk arrested credit card fraud" and see how many stories pop up.
  12. ntrddragn
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    ntrddragn New Member

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    I agree. I'm just saying that these kind of videos scare lots of ppl. They would hesitate to be early adopter of this kind of technology.
  13. PereDroid
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    PereDroid Well-Known Member

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    Totally agree with John.
    I have to carry my wallet anyway.
    And some people here are saying "but you could lose your wallet, too". Sure I could. But my wallet could survive a 3 story fall. Can my phone survive a 4 foot drop?
    (signed, the guy who has broken 3 phones and 2 tablets)
    I've never dropped my phone in a toilet, but I know someone that did. Wallet can survive that.
    Not to even mention what I don't think anyone mentioned here: privacy.
    I don't care that Google knows everything I buy in Play. I don't care that Amazon knows every purchase I make there. I don't care that the grocery store tracks every food purchase.
    But do we really want ONE company to know EVERY purchase we make in life? For what? So you can MARKET MORE **** TO ME?
    Come on. You KNOW that's why Google wants you to use the wallet. Not because it's going to be easy for you. Because they want MOAR MARKETING DATA! Mwhahahaha!
    Stop it Google. Stop trying to own EVERY aspect of my life. Love you. but no.
    Last edited: Feb 6, 2013
  14. PereDroid
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    PereDroid Well-Known Member

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    /edit/ And if someone steals my wallet, at least I have my phone to call my bank and cancel my cards.
    If someone steals my phone/wallet what do I do??? :D
  15. delcopa
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    delcopa Member

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    Or what happens if you lose your wallet then your out of luck and have no way to pay for anything or if someone steals your wallet......Wallets still tend to disappear more then phones cause they hold CASH and CREDIT CARDS! Now if you have BOTH you can actually still pay if the place supports the digital wallet. THe wallet is still secure if lost or stolen cause requires a PIN to purchase and also if you secure your phone then would be two PINS one to get into the phone and the other to use the wallet. Hard Plastic CC's think about the last time someone actually checked your ID to use it to pay for something......
  16. delcopa
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    delcopa Member

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    I blame it on the carriers.......

    They are trying to be greedy and open their own ISIS just to get money with every transaction while they are BLOCKING Google Wallet until they can release their own wallet which I am sure won't be as good cause they are closing the market and only allowing their software to be used. When you do that it hampers development cause then they are the only one that can be used.

    I have been using Google Wallet but requires hacking cause of the carriers only one that allows it is Sprint. It is much faster and easier then pulling out my wallet and then looking for the card. I have paid at WaWa, Home Depot, Wendy's (at the drive through have a scanner outside!)

    Plus I know the card number is not being seen by anyone Google uses a virtual card then charges your real card later. Also know I am not forgetting my card behind or dropping it you do that your account will be used if someone gets it and isn't honest. If I leave the phone I can remote wipe the whole phone or just my Google Wallet and no one could use without getting through two PINS. Yes maybe hack but still would take longer then plastic card to use. Guesing I could disable quicker most of the time. Plus banks for illegal use if stolen cover minus a feee I am sure lol.

    Would i go 100% Virtual wallet no for a few reasons not accepted everywhere, and could have phone that crashes etc....But I do use it every chance I get it is quicker, and easier. Still have wallet but need drivers license etc...So both work well together if the carriers would only allow it and stop being so greedy!
  17. PereDroid
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    PereDroid Well-Known Member

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    You're just assuming.

    "A surge in thefts of iPhone and iPads is responsible for a slight uptick in New York City's overall crime rate, according to New York Mayor Michael Bloomberg.Apple's products were the preferred mobile device target of many thieves in the city, Bloomberg noted during his weekly radio address, according to the New York Times.
    Statistics published by the New York Police Department revealed that as of Monday, there were 3,484 more major crimes reported in 2012 than for the same period last year. During that time, the city experienced 3,890 more thefts of Apple products.
    "If you just took away the jump in Apple, we'd be down for the year," Marc La Vorgna, the mayor's press secretary, told the Times."

    Article: NYC mayor blames theft of Apple devices for uptick in crime | Apple - CNET News


    Not to mention: thieves really don't want credit cards anymore. Steal my credit card and I am on the phone with the bank 5 minutes after you leave. Those are worthless.
  18. Dusty
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    Dusty Premium Member Premium Member

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    It's 2013. If you don't have a locator w/remote wipe app installed on your phone it deserves to be stolen.
  19. bazar6
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    bazar6 Premium Member Theme Developer Premium Member

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    They'd get a 2fer... steal your phone which has your credit cards, which means you no longer have an easy means to call the bank to cancel it.
  20. PereDroid
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    PereDroid Well-Known Member

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    Dusty:
    First off, the article in question doesn't say anything about if any were returned, or if they had remote wipe. And even if they did: great you remote wiped your phone. All your data is safe. Your phone is still stolen.

    Next: Having Remote Wipe on your phone is OBVIOUSLY zero deterrent.

    Third: I steal YOUR phone, run down the street, hop on a bus. If you don't have a pin code, I can reset your phone before you can get home to your PC and track me.

    Yes, remote wipe is great. We should all have it. But it's not going to deter theft. Even. A Tiny. Bit...
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