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Mobile Retail Payments Move Mainstream

Rob Rubin, Novantas Managing Director, writes a weekly column for The Financial Brand

Research based on actual, active bank and credit union shoppers at FindABetterBank indicates 27% of smartphone owners have used their device to complete a purchase transaction at a retail store — 29% growth compared to a year ago. As with other types of mobile payments (e.g. P2P) consumers aged 30-39 are more likely than Millennials to make mobile POS purchases. Income partly explains Millennials’ lower mobile POS adoption. But even when we analyze respondents with similar incomes, those ages 30 to 39 years are still more likely to have made a mobile POS transaction.

Read the full article at The Financial Brand…

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