Most consumers would like a wallet-less existence – PayPal survey

23 May 2013

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Eighty-three per cent of consumers surveyed in five countries would like to forego their wallets and pay for purchases in a less bulky fashion, a survey by online payments giant PayPal suggests.

The survey polled consumers in the UK, the US, Canada, Germany and Australia, with consumers in Germany wanting to ditch their wallets the most, at 90pc.

Consumers in Germany were also least likely, at 57pc, to report being unable to pay for something because they didn’t have cash with them. Canada had the highest percentage – 75pc – of consumers who have encountered this issue.

The survey also revealed locations consumers wish they go to without their wallets, with the beach being the top spot, followed by the gym. Concerts and sporting events also ranked on consumers’ list of places they would like to attend without their wallets.

Instead of a wallet, many consumers would choose to carry a smartphone instead. Survey respondents in the UK were most likely, at 32pc, to choose a smartphone over a wallet as the one item they would bring out with them.

“It’s not about replacing cash or your credit card with a new payment method; it’s about using technology to solve real shopping pain points,” said PayPal president David Marcus in a press release.

Wakefield Research conducted the survey, polling 1,000 debit and credit card holders 18 and older in each of the five countries.

Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com