Mobile payments remain a tough proposition to sell in mature markets

27. February 2018.

A June 2017 survey of urban WeChat Pay users in China by Tencent Research Institute found that 73% of respondents used cash when that was the only form of payment accepted.

Meanwhile, services like WeChat Pay have established themselves as an easy way to complete transactions in China. eMarketer estimates that 77.5% of smartphone users in China will use proximity mobile payments in 2018, compared with just 25.3% of smartphone users in the US.

There are a few factors holding back mobile payments in Western markets. According to a June 2017 survey by Paysafe, lack of knowledge was the primary reason mobile users in Canada, the UK and the US don’t use a mobile wallet. Other reasons included various security concerns, and some simply didn’t like taking their phone out to pay.

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