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Users Want To Get Rid Of Their Wallet, PayPal Study Suggests

A global study undertaken by PayPal reveals that most consumers around the globe wish to get rid of their wallet. This essentially hints at a trend that users increasingly want to get digital payments solutions. However, it remains to be seen how reliable the study is, given that PayPal has a vested interest in a future set with digital payments.


PayPal

The company claims that in the study it has undertaken, an overwhelming majority of the respondents, 83% to be exact, have cited that they don’t want to carry around a wallet. These respondents hail from five different countries, thus representing a truly multinational phenomenon.

The study further reveals that one in every three American prefers to carry his smartphone, rather than his wallet, if he was to take one item when going out. The Germans, in comparison, are even more eager to leave their wallets at home, with 90% German respondents registering that they don’t want to carry a wallet.

Similar high percentages of respondents in Canada, Australia and Britain have resounded the same sentiments. Naturally, the consumers are more bothered when they have to carry around a wallet in summers. Imagine going to the beach and having to carry a wallet with you – that can be a real pain.

But despite such sweeping consensus of the world to get rid of the wallet, not many businesses offer alternate methods of payment. And this, PayPal tells us, is where it can facilitate the users with a whole plethora of new technologies. But then again, since PayPal has a direct interest in the ‘findings’ of this study, it remains anyone’s guess as to how reliable the study itself, or its results are.

Courtesy: Financial Post

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