When will Belgians embrace mobile payment?
The use of mobile payment is in its infancy in Belgium, yet awareness is relatively high. Our latest research highlights some of the obstacles to widespread adoption, and suggests how the market might develop in the future.
Our FutureBuy study of 17,000 consumers across 17 countries identifies that just 5% of transactions are made using a mobile device. Although cash and cards are still used for the majority of transactions across these markets (46% and 45% respectively), there is an enthusiasm to pay via mobile. Two barriers are preventing widespread adoption – the two “Ts” of trust and technology. The picture is similar in Belgium, but here it would appear that mobile payment seems to be very much a youth market phenomenon.