Consumers look to established credit brands for mobile payments

August 30, 2011

A number of companies have recently unveiled mobile payment processing solutions, including Google.

A number of companies have unveiled mobile payment processing solutions, including Google. However, a recent study conducted by Ogilvy & Mather suggests that Americans have the most faith in established financial services brands when it comes to mobile credit card processing.

Americans are most likely to trust Visa with mobile payments, with 39.6 percent of respondents expressing this sentiment. Mastercard and American Express followed suit, commanding 35.9 and 35.8 percent of consumers trust, respectively. Paypal, one of the leading digital wallet service providers, was ranked fourth – 34.3 percent would entrust the company with mobile payments.

Martin Lange, executive marketing director and worldwide head of mobile for Ogilvy & Mather, told Advertising Age that merchants should make note of this when choosing a mobile payment services provider. “If you can partner with Visa, MasterCard, AmEx or a large bank, use that brand to elevate your service.”

Mobile commerce has quickly caught on among American consumers, with a recent Forrester Research study suggesting mobile spending will grow by 39 percent over the next five years.

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