San Jose, Calif. – Consumers around the world are accepting of mobile technology and think technology should make payments easier and more connected, according to a recent 15-country survey from PayPal.
Survey results show that in some of the world’s fastest-growing economies, the majority of the population has already embraced mobile payments. In China, 90% of respondents pay from their phone, followed by Russia (85%), Brazil (nearly 70%) and Turkey (60%). Even in China, however, where mobile is mainstream, 35% of respondents wish paying by phone were easier. The world is ripe for continued innovation.
In the U.S., 54% say that small local businesses like farmers markets and local shops can benefit from mobile or online payments, and 49% believe American entrepreneurs overall would benefit from an easier flow of money.
In addition survey results show that 70% of the world thinks technology should make payments simpler, connected and faster, with more choices and opportunities. Specific results include that in Singapore (73%), China (72%) and Australia (51%), the majority of people want technology to help them avoid long lines. European shoppers are more fed up with having to wait for someone to take payment or having to get cash to complete a purchase, with Spain (55%), Italy and Russia (53%), France and Turkey (41%) and the U.K. (39%) reporting the highest levels of dissatisfaction.