When various mobile wallets began to take flight only but a couple of years ago, consumers were skeptical on whether or not they should use these new ways to pay. Mobile wallets are a scary thought in the mind of the average consumer, especially considering all of the hacks that have happened. The thought of consumers having all of their credit/debit card information on their phone seems to be what is causing consumers to not make the big leap in going completely mobile. Just this past year only 2.7% of Black Friday consumers used their mobile wallets (apply pay, samsung pay, etc.) to make purchases. Although consumers are not frequently using their mobile wallets, it seems that more mobile wallet options are popping up everywhere. With Apple pay, Samsung pay, Google wallet, Paypal, and now a new installment of Walmart Pay, there seems to be no end to the mobile wallet frenzy. The problem is getting consumers to actually use these platforms.
At first it was said that the NFC technology was too advanced and that stores needed a chance to “catch up” with their register systems in order for consumers to use their Apple Pay or Google wallets at the store. That changed when Samsung Pay was introduced late this year and announced that it has a combined use of the NFC technology as well as the magnetic technology that will enable its users to use Samsung Pay at any location. Through this, results of consumers using the mobile wallet payment method is still low. The market shares are vast, it is just a matter of consumers taking the leap to using the mobile wallets. So, the next question becomes how to make consumers feel safe enough to use mobile wallets as forms of payment?
PAYTOO Mobile Wallet™ is a true mobile wallet that allows its users to do more than just withdraw and deposit money or buy goods. PAYTOO reaches the unbanked and underbanked as well, so those who do not have credit/debit cards are able to use PAYTOO just as those who do have a credit/debit card can. By having bill payment options, top ups, and other features available PAYTOO Mobile Wallet™ has a secure mobile wallet that is safe and easy to use for all of it’s customers. To learn more visit http://www.paytoo.com
**To learn more about Walmart Pay visit this article–>http://www.reuters.com/article/us-wal-mart-mobilepayment-idUSKBN0TT0E620151210#wmgFurAz45mj18aI.97**