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Mobile wallet adopters likely to opt for PayPal over other providers. Apple and Google have had the spotlight this year in mobile payments, but a new survey from CMB shows that new mobile wallet adopters will opt for PayPal. The survey of 1,716 US adults was conducted from late March through early April.
- PayPal came out ahead of other brands: 71% of likely mobile wallet adopters, or consumers who haven’t made an in-store mobile payment but plan to make one in the next six months, selected PayPal as their preferred provider.
- Apple, Amazon and Google followed closely behind: A slight majority of this constituent said they’d use Apple, followed by 49% and 48% for Amazon and Google, respectively.
- Microsoft settled near the bottom at 34%. The company hasn’t made many vigorous pushes into mobile payments but recently filed for a money transmitter licence in Idaho, and is working to acquire licenses in all 50 states.
The survey results show that PayPal can gain even more customers as the mobile wallet ecosystem grows.
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A recent survey from 451 Research gave the opposite result — that Apple Pay, a newer entrant to the ecosystem, is growing its user base at the expense of PayPal.
In the survey, 45% of consumers said they planned to make a payment with Apple Pay, compared to just 28% with PayPal. Last year, the reverse was true — 54% said PayPal, and 19% chose Apple Pay.
It’s very likely that Apple Pay has eroded PayPal’s wallet business, but it’s clear from the new survey that PayPal still has a highly visible brand, which it should be able to leverage as it works to create new mobile payment products.
PayPal’s foray into mobile payments has seen mixed results — it’s built successful in-app and peer-to-peer transfer payment products, but its in-store efforts have been largely fruitless. The firm recently acquired Paydiant, a mobile wallet and loyalty platform used by restaurants, and will offer Paydiant’s wallet as a white label product.
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Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
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