More than four in five American smartphone owners are familiar with mobile payment services offered by credit card companies, and just over one in three have used them, according to newly released findings from a survey commissioned by Placecast, one of the only enterprise-grade platforms for monetizing location data on mobile. Conducted online by Harris Poll in November 2014 among over 1,100 U.S. adults who own a smartphone, the survey also showed that smartphone consumers have almost equally used mobile payment services provided by their phone manufacturer, credit card companies, and Internet companies.

 

Of the smartphone consumers who have used mobile payments, there is no clear frontrunner for which provider will “win” the market. When Placecast compared mobile payments offerings from manufacturers, credit card companies, and Internet companies, the data revealed neck-and-neck competition: 31 percent have used a manufacturer’s mobile payment service, 33 percent have used a credit card company’s service, and 35 percent have used an Internet company’s mobile payment service.

“This indicates that the market is ripe for the taking, and anyone can win the mobile payments race,” said Placecast CEO Alistair Goodman. “Apple, Google, PayPal, Square, Citi, Chase, Samsung – they all have compelling mobile wallet offerings, and any one of them could pull ahead.”

The market potential for mobile wallets is tremendous, which is why so many different companies are vying to become a leader in the space. Given the explosive growth of mobile devices, whoever dominates mobile wallets will essentially dominates commerce, whether the transactions take place online, in-store, via mobile, or a combination of these. However, there are a number of obstacles standing in the way. Until recently, a majority of Americans remained unaware or confused by new payment systems, and many did not see the benefit of paying for something with a phone instead of cash or cards.

The Placecast survey indicates that the tide is beginning to turn. Not only have 4 out of 5 smartphone owners heard of mobile payment services, but also more people are becoming comfortable with using this technology. Placecast found that more than 2 out of 3 smartphone owners (68 percent) find it at least somewhat important to make a purchase online on their smartphone. This finding is in line with a recent InMobi survey that showed that 83 percent of global shoppers who use mobile devices plan to make a mobile purchase in the coming year. By the end of 2017, U.S. mobile users will spend $90 billion via mobile payments, a 48 percent increase over t