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Assurant: Consumers need guarantees for mobile payments

A study by risk management specialist and insurer Assurant Solutions, based on consumer surveys conducted in Argentina, China, the United States, Germany and Spain, has found that willingness to conduct mobile transactions of all types increases markedly when the transaction is protected or guaranteed.


45% more consumers who don’t use their phone to conduct transactions today would be willing to make mobile wallet transactions if they were protected or guaranteed, the survey found. Amongst those who already use their phone to conduct transactions today, meanwhile, there would be a lift of 24% in NFC usage frequency if transactions were protected or guaranteed.

Overall, the researchers found that 20% of mobile users currently engage in mobile financial transactions in one form or another, 31% regard mobile wallet transactions as “not at all secure” and 37% do not see any need to use a mobile wallet.

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