Report Shows PayPal and Amazon Among Most Trusted Digital Wallets

Report Shows PayPal and Amazon Among Most Trusted Digital WalletsWith mobile payments and digital wallets increasing in popularity with each passing season, this young industry is now heavily influenced by a handful of players deemed most trusted by consumers.

According to Forrester data based on a survey of more than 4,000 respondents, 31% of US online consumers who own a mobile phone are interested in or already use mobile payments for in-store purchases, up from 18% in 2011.

However, while 61% of US consumers have heard of a digital wallet, only 11% use one, an indication that wallet providers still have a lot of work ahead to enable easy adoption, writes Senior Analyst Denée Carrington in new research detailing digital wallet strategies.

Consumers currently most trust digital wallets from brands they associate with payments. In the US, online consumers most trust PayPal (38%) to provide a mobile digital wallet, followed by banks and credit card issuers (35%) and (23%).

To learn more from the new report, click here.