News

Consumers trust credit cards most for mobile payments, survey says

Consumers trust their credit card companies over the new mobile payment applications like Facebook, Google and Apple, according to a new study.

Ogilvy & Mather asked online users, “Who would you trust with mobile payments.” Almost 40 percent of consumers selected Visa while 36 percent of consumers chose MasterCard and American Express, according to VendingTimes.com.

The survey also showed that consumers trust the United States Postal Service with mobile payments over Apple, Microsoft or Google.

Only 12 percent of those surveyed said they trusted Facebook with their mobile payments. PayPal, however, had 34 percent of respondents expressing their trust in it with their mobile payments.

Martin Lange, the executive marketing director and worldwide head of mobile for Ogilvy & Mather, said the lesson for mobile technology providers is to promote alliances with credit card companies to win the confidence of consumers, according to VendingTimes.com.

The Google Wallet smartphone payment application is a product of such an alliance between MasterCard and Citibank.

Visa has teamed with the mobile payments joint venture of Verizon, AT&T and T-Mobile on its payment startup Square, which will compete with the Google Wallet.

Serve, a mobile payments product of American Express and T-Mobile, has also recently been added to the market.

Comments are closed.