Jumio, a young firm backed by Facebook billionaire Eduardo Saverin, has just published research on how consumers are using their mobile devices to pay for things. Among the data are two key facts: We’re using our smartphones to pay for all sorts of goods and services, and at the same time, we’re aware of the security risks those transactions carry.
While 60% of consumers surveyed plan to use their smartphones or tablets “even more” in the future to “conduct important activities” like banking, bills, service management and so on, only 48% of people currently use their device to check bank details and 32% pay bills online. Nearly one in four people has been a victim of online or mobile fraud, a figure Jumio says is above the national average of 5%, and 83% of survey responders were worried about identity theft.
Interestingly, male responders used their devices more for “important” activities and are more convinced they’ll do so even more in the future. The age group most uncomfortable with entering credit card data into a device were people age 55 and older.
It’s worth pointing out that Jumio has a vested interest in talking about online credit card security because that is its business. But the data does support other information that shows huge adoption of smartphones and tablets.