Inflection Point for Mobile Wallets?

Forty percent of people who make payments with their smartphones are more likely to use their Google Wallet than their actual wallet, according to Nielsen's second quarter 2014 Mobile Wallet Report.

The study — which surveyed 3,784 people who had used their smartphones or tablets for shopping, banking, or making payments in the previous month — found that using mobile payment services such as PayPal, Google Wallet, and MasterCard PayPass isn't specific to any one demographic.

That could be a sign that use of mobile wallets is nearing an inflection point. That would be good news for proponents who have been waiting for the market to develop.

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