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PayPal destroys Google Wallet, MasterCard, Square, and Visa in digital wallet study, by John Koetsier

Stashed in: Square, economics

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No digital wallet vendor besides PayPal has even 50 percent awareness. Forty-one percent of Internet-using Americans have heard of Google Wallet, but only 13 percent know about MasterCard’s PayPass wallet, and even fewer know about Square’s, Visa’s, or other vendors’ solutions.

While half of respondents have used PayPal, only 8 percent have used Google Wallet. Three percent of American Internet users have tried MasterCard’s digital wallet solution, with the numbers going down from there for Square, Visa, Isis, Lemon Wallet, and LevelUp.

The problem is not just with use — it’s also with education. Unfortunately, digital wallet companies suck at explaining their product.

According to ComScore, most consumers just don’t really know what a digital wallet is and what benefits it can provide. And even after being shown websites of digital wallet vendors, people still showed an average comprehension of just 45 percent.

Mastercard has a digital wallet?! I guess I'm one of those people who doesn't get it.

I have this feeling that after 2013's watershed year for Bitcoin awareness, that even Bitcoin, technically esoteric as it is, belongs in the choice group.  

Yes but Bitcoin isn't a company and Bitcoin wallets are rarer than Google wallets.

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