While some of the largest companies in the world have gotten behind mobile payment systems, recent studies have revealed that some consumers may be more hesitant.
A study by KPMG revealed that just 23 percent of those responding stated that they would use their phones instead of credit cards, while 30 percent of young adults were willing to use the new service.
Many in the industry say that the adoption may take years so that the public can get educated on the important subjects. Marc Freed-Finnegan Sr., business product manager of Google Wallet said in an interview with Reuters that he expects it to gain traction.
"Just the act of paying with your phone is a new thing for most of us. We're also working hard to educate people about why mobile payments represent the future of commerce," he told the source.
At a recent industry gathering, some in the merchant services-related field said that wider adoption needed to be achieved for retailers. At the Electronic Transactions Association's Mobile Commerce Summit on October 25, leaders touted the bright future of the industry.
