It’s no secret that mobile wallets and digital methods of payment are becoming more and more common. For example eBay Inc.’s PayPal and Google Wallet offers two of the most-popular versions of mobile wallets that people can use for all their digital payment needs.

But…just what are consumers looking for in a mobile wallet, what kinds of things do they feel most comfortable about paying for digitally and what do they see as the advantages of paying for something, say, with their smartphone as opposed to a wad 0f old-fashioned cash?

Those were some of the questions the payment-systems technology company VeriFone Systems Inc. looked to answer with a recent survey done by Wakefield Research. The survey, which included 1,000 American adults above the age of 18, was conducted between Jan. 3 and Jan. 8.

Among the findings:

  • 55% of consumers want mobile payments.
  • 45% said they are likely to use their smartphones for a “small purchase” such as a cup of coffee. That figure dropped to 29% for big ticket items.
  • Regarding advantages of paying with a smartphone, 45% listed the ability to track their spending, while 34% said they liked the faster nature of paying that way and 28% cited the convenience of not having to deal with a wallet.
  • Also, 60% said they were willing to exchange information about their purchase history in order to receive more relevant deal offers and a customized shopping experience.

Verifone said the survey results also had a margin of error of +/- 3.1%.

Source: MarketWatch