A recent survey commissioned by Capital One has found that nearly one quarter (24%) of respondents are using mobile wallets in some capacity, with 16% leveraging the technology to make purchases.
Of the 24%, more than 63% confirmed the use of a mobile wallet for less than year. As Mobile Payments Today notes, the above-mentioned figure illustrates the rapid acceptance and deployment of the technology during 2016. Indeed, 49% of mobile wallet owners said they use the technology at retail stores while 41% have paid with mobile wallets at grocery stores. In addition, 37% have purchased fast food with a mobile wallet, with 26% using the technology at drugstores and 27% employing mobile wallets for travel-related purchases.