Mobile wallets will have replaced their leather counterparts in Australia by 2021, research commissioned by CommBank suggests.
I'm trying to figure out how a sampling of 1,024 consumers is statistically significant to represent the consumer sentiment in a country of close to 23 million people. For the prognostication of the research to be even half-way believable, it would need
to address the willingness of the country to move drivers licenses, ID cards and other usual components of leather wallets onto mobile handsets as well.
I'd like to have a look at the actual wording of the question, to see what 'putting trust in banks for mobile wallets' actually means. It makes sense that people would trust their banks rather than government to manage a mobile wrapper for payment instruments.
But as Jim says, that doesn't necessarily mean people would trust their banks to look after digital representations of primary government issued forms of ID and licensing.
© Finextra Research 2015