67% of cryptocurrency owners are ready to make mobile wallet purchases with: survey
More than a third of consumers between the ages of 18 and 54 own a cryptocurrency, according to a recent study by digital payment company Cantaloupe Inc. According to the study published this week, 18-34 year olds are the most likely to own crypto-currencies (37%) with 35 years. -54 (33%) slightly lower.
The Cantaloup study also found that 67% of those who own a crypto would consider using it for purchases if it was linked to a mobile wallet, with an additional 19% saying they would use crypto linked to a mobile wallet. if it was easy.
Cantaloup, a leading tech company in unattended retail, is offering a new payment device that can accept cryptocurrency at vending machines.
The adoption and use of mobile payment applications is growing. According to the Cantaloup survey, only 14% of those surveyed said they had not used a mobile payment application in the past year. Paypal was the most popular payment app with 72% of respondents saying they had used it in the past year. It was followed by Cash App (32%), Venmo (26%), Google Pay (21%), Zelle (20%) and Apple Pay (19%).
“With the increasing popularity and ownership of cryptocurrency, it is essential that retailers find ways to accept this new payment method, and the easiest way may be through mobile wallets,” said Sean Feeney. , Managing Director of Cantaloup.
“It’s not hard to imagine a world where cryptocurrency is used to make everyday purchases using a cell phone, whether at an ATM, in a store, or online,” Feeney continued. “Our research shows that the needle is moving fast, consumers are more comfortable paying with mobile apps than ever before, and it’s time for the retail industry to be ready to live up to expectations. consumers who prefer crypto for payment, and start accepting it.
Cantaloup’s findings are based on the results of a survey of U.S. consumers conducted by CITE Research that targeted samples of over 2,000 identified U.S. adults, each balanced by gender, geography, and age group, conducted from 1st to June 8. samples of sources among panels participating in online surveys.
Additional findings
- Forty-one percent of respondents who earn more than $ 100,000 a year own cryptocurrency, compared to 24% of those who earn less.
- Only 46% of those over 55 would use cryptocurrency linked to a mobile wallet, compared to 68% of 35-54 year olds and 70% of 18-34 year olds.
- Less affluent and younger respondents prefer Cash App to Venmo. While about the same percentage of respondents earning more or less than $ 100,000 per year overall prefer Paypal (72% and 75%, respectively), 24% of respondents earning less than $ 100,000 use Venmo, compared to 35% of those who earn more. By comparison, 33% of those who earn less than $ 100,000 use Cash App, compared to 28% of those who earn more. Cash App is the second most popular payment app on Paypal for younger generations, with 49% of 18-34 year olds using it, compared to 38% using Venmo, the third most popular.
Download the study here.
