A growing number of people say they prefer plastic credit and debit cards to digital wallets, in part because they find the latter more inconvenient to use, according to a new survey by J.D. Power. The survey found that the percentage of US consumers who reported using a digital wallet in the last three months increased from 38% in 2021 to 49% in 2022. However, the percentage of customers who said they do not use mobile wallets because it is more inconvenient that a card increased from 47% to 49%.
JD Power said a possible reason more consumers find mobile wallets more inconvenient is the growing popularity of contactless cards. Still, the percentage of people who said they’ve heard of mobile wallets but never set one up fell from 37% to 24% last year, while those who said they were concerned about security fell from 25% to 21%. .
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