49% of Consumers Use Digital Wallets to Pay Bills

Contactless payment for purchases at the point of sale (POS) have been gaining traction, in the aisles and at payment terminals. But the use of digital wallets across a variety of use cases gaining ground too.

In “The Digital Wallet Mandate: Secure Bill Pay Beyond The In-Store Point Of Sale,” a PYMNTS and ACI Worldwide collaboration, found that across more than 2,000 consumers, mobile wallets are being used not just to pay for goods and services at the register, but also to manage their finances and store sensitive personal information.

In consumers’ eyes, the “Pays” hold sway: Apple Pay, Google Pay, Samsung Pay, Amazon Pay and PayPal.

Digital wallets also offer a convenient way to store loyalty and rewards cards, we found, and to pay for transportation and event tickets, and even store driver’s licenses in a handful of U.S. states.

PYMNTS’ research finds that consumers are more likely to use mobile wallets to pay bills and transfer money than they do to make purchases in-store, at a respective 49% vs. 27%.  Ease of use and convenience are the biggest motivators, with three-quarters of consumers saying they currently use mobile wallet features for these reasons.

Get the report: The Digital Wallet Mandate: Secure Bill Pay Beyond The In-Store Point Of Sale