Consumers, including the unbanked, are interested in mobile payments for speed and convenience.
However, they also have concerns about personal information security, according to a study from the Philadelphia-based Pew Charitable Trusts.
The study, "Is This the Future of Banking?," was based on focus groups organized by Pew in May 2015 with smartphone owners who have bank accounts but have not tried mobile payments, those who have bank accounts and have used mobile payments, and those who do not have a bank account (the unbanked).
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