Research by MasterCard suggests that online shoppers will be more receptive to e-wallets issued by financial institutions than those issued by competing non-bank providers.
The study, "Understanding the E-Wallet User: A Market Research Report", analyses the consumer e-wallet experience, focusing on user attitudes towards different types of e-wallet providers and exploring desired e-wallet functionality.
The majority of those polled express a preference for e-wallets hosted by financial institutions over those sponsored by Internet companies (36%) and Internet service providers (11%). Bank-issue wallets are associated with greater security, privacy and merchant acceptance, states the research. Consumers also express an interest in having convenient access to other services provided by financial institutions' e-wallet applications, for example person-to-person payment support, account balances, or balance transfers.
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