A lot more consumers are aware of mobile wallets than interested in using them right now, according to a new survey.
Phoenix Marketing International offered that conclusion after surveying 3,013 respondents in the second quarter of this year, noting that 70% told the firm that they are aware of mobile wallets and only 20% saying they were interested in using one at this time.
(Click to expand image at left.)
The Rhinebeck, N.Y., firm said interest in mobile wallets that does exist is driven by Millennials and Gen X users and that PIN-based authentication with a mobile wallet has substantially greater appeal over both NFC (Near Field Communication) and QR code scans.
"Although the market is in early stages of development, consumers clearly prefer to enter a PIN at the merchant terminal or on their smartphone," said Greg Weed, the firm's director of 
card research.
"Overall, cardholders preferred PIN over NFC and QR codes by a three-to-one margin, likely due to greater familiarity with PIN technology," Weed said.
(Click on image at right to see expanded.)
As part of its ongoing research study, Credit Card Monitor, Phoenix surveyed 3,013 credit card owners in the second quarter of 2013 on a variety of topics including card ownership, use, wallet position, loyalty and mobile wallets, the company said.
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