Table C.1. Do you or does your spouse/partner currently have some type of bank or credit union account such as a checking, savings, or money market account? Percent, except as noted
Q1
Refused
0.7
Yes
88.8
No
10.5
Number of respondents
2,657
Table C.2. Have you or your spouse/partner ever had some type of bank or credit union account such as a checking, savings, or money market account? Percent, except as noted
Q2
Refused
3
Yes
34.2
No
62.8
Number of respondents
195
Table C.3. Please choose the most important reason why you don't have a checking, savings, or money market account.
Q3
Refused
15
I wouldn't use an account enough to make it worthwhile
7.6
I can't open an account due to ID, credit, or banking history problems
10.4
I don't like dealing with or don't trust banks
5.8
The account fees and service charges are too high or unpredictable
2.4
Banks do not have convenient hours or locations
0.8
Banks don't offer the products or services I need
0.9
I cannot manage or balance an account
1.5
I don't have enough money to keep in an account or meet a minimum balance
24.5
I don't need or want an account
24.2
Other (Please specify):
6.7
Number of respondents
195
Table C.4. Have you used a payday loan, paycheck advance, or deposit advance service in the past 12 months? Percent, except as noted
Q4
Refused
0.7
Yes
6.1
No
93.2
Number of respondents
2,657
Table C.5. How many times in the last 12 months did you use payday loan, paycheck advance, or deposit advance services? Percent, except as noted
Q5
Mean value
4.5
Median value
2
Number of respondents
110
Table C.6. Was the money you received from your most recent payday loan used for any of the following: Percent, except as noted
Q6
Paying utility bills (phone, power, gas)
52.7
Paying rent or mortgage
37.9
Paying for an emergency expense
39.3
Deposited into a bank account to avoid overdraft charge(s)
24.1
Paying miscellaneous bills
36.5
Buying food, groceries, or other living expenses
51.1
Other (Please specify):
4.7
Number of respondents
117
Table C.7. Thinking of the most recent time you took out a payday loan, what was the main reason for using a payday loan or payday advance service rather than a bank loan or credit card? Percent, except as noted
Q7
Refused
3.9
The location of the payday lender was more convenient
19
The payday loan was much quicker to get than a bank loan or credit card advance
18.5
I thought it would be easier to get a payday loan than to qualify for a bank loan or credit card
14.8
I didn't think banks made loans for small amounts of money
10.5
It felt more comfortable to work with the payday lender than to use a bank
3.2
I didn't want the loan to show up on my credit report
0.1
I didn't think I would qualify for a bank loan or credit card
27.6
Other (Please specify):
2.4
Number of respondents
117
Table C.8a. Have you used a general purpose prepaid card in the past 12 months? Percent, except as noted
Q8a
Refused
1.1
Yes
15.3
No
83.6
Number of respondents
2,657
Table C.8b. Have you used a payroll card in the past 12 months? Percent, except as noted
Q8b
Refused
1.1
Yes
3
No
95.8
Number of respondents
2,657
Table C.8c. Have you used a government issued prepaid card in the past 12 months? Percent, except as noted
Q8c
Refused
0.7
Yes
8.3
No
90.9
Number of respondents
2,657
Table C.9. Are any of the general purpose cards or payroll cards you have used reloadable? Percent, except as noted
Q9
Refused
0.9
Yes
38
No
42.3
Don't know
18.9
Number of respondents
420
Table C.10. In the past month, did you or anybody else load money to your prepaid card(s)? Percent, except as noted
Q10
Refused
0.2
Yes
49.7
No
50.1
Number of respondents
158
Table C.11. Have you used each of the following financial products in the past 12 months? Percent, except as noted
Q11
Debit card or check card
73.9
Paper check
76
Major credit card
69.3
Store-branded credit card good only at the store that issued the card
35.6
Auto title loan
6.9
Check cashing services
7.4
Money order
15.3
Pawn shop loan
2.5
Number of respondents
2,657
Table C.12. Have you spoken with a teller or a bank employee at a bank branch in the past 12 months? Percent, except as noted
Q12
Refused
0.6
Yes
82.3
No
17.2
Number of respondents
2,441
Table C.13. Have you used an ATM for any banking transactions in the past 12 months? Percent, except as noted
Q13
Refused
0.5
Yes
75.4
No
24.2
Number of respondents
2,441
Table C.14. Have you used telephone banking in the past 12 months, either with a land-line phone or your mobile phone? Percent, except as noted
Q14
Refused
0.5
Yes
33
No
66.6
Number of respondents
2,441
TABLE C.15 OMITTED
Table C.16. Do you currently have regular access to the Internet, either at your home or outside your home that is not provided by Gfk? Percent, except as noted
Q16
Refused
1
Yes
89.2
No
9.9
Number of respondents
2,657
Table C.17. Have you used online banking on a desktop, laptop, or tablet (e.g., iPad) computer in the past 12 months? Percent, except as noted
Q17
Refused
0.1
Yes
78
No
21.9
Number of respondents
2,268
Table C.18. Do you own or have regular access to a mobile phone (cell phone)? Percent, except as noted
Q18
Yes
87.2
No
12.8
Number of respondents
2,657
Table C.19. Is your mobile phone a smartphone? Percent, except as noted
Q19
Refused
0.7
Yes
61.2
No
38.1
Number of respondents
2,341
Table C.20. Which type of smartphone do you have? Percent, except as noted
Q20
Refused
0.1
Android
45.4
BlackBerry
3.1
iPhone
43.7
Windows Mobile
1.8
Other (Please specify):
3.3
Don't know
2.6
Number of respondents
1,365
Table C.21. Do you password protect your smartphone? Percent, except as noted
Q21
Refused
1.3
Yes
60.7
No
38
Number of respondents
1,365
Table C.22. Does your bank or credit union offer mobile banking? Percent, except as noted
Q22
Refused
0.4
Yes
66.6
No
5.5
Don‘t know
27.5
Number of respondents
2,187
Table C.23. Have you used mobile banking in the past 12 months? Percent, except as noted
Q23
Refused
0.4
Yes
33.3
No
66.3
Number of respondents
2,187
Table C.24. Do you plan to use mobile banking in the next 12 months? Percent, except as noted
Q24
Refused
0.1
Definitely will use
0.8
Probably will use
10.8
Probably will not use
42.6
Definitely will not use
45.8
Number of respondents
1,540
Table C.25. Do you think you will ever use mobile banking? Percent, except as noted
Q25
Refused
0.6
Definitely will use
0.6
Probably will use
18.2
Probably will not use
47.7
Definitely will not use
33
Number of respondents
1,377
Table C.26. Using your mobile phone, have you done each of these in the past 12 months? Percent, except as noted
Q26
Downloaded your bank's mobile banking app on your mobile phone
72
Checked an account balance or checked recent transactions
92.7
Made a bill payment using your bank's online banking website or banking app
44.3
Received a text message alert from your bank
42.9
Transferred money between your bank accounts
57.1
Transferred money from your bank account to another person
26.1
Deposited a check to your account electronically using your mobile phone camera
38.4
Located the closest in-network ATM for your bank
40.6
Received an e-mail alert from your bank
53.4
Number of respondents
640
Table C.27. In the past month, how many times have you personally used mobile banking? Percent, except as noted
Q27
Mean value
8.5
Median value
4
Number of respondents
633
Table C.28. When did you start using mobile banking? Percent, except as noted
Q28
Refused
1.8
In the last 6 months
8.7
6 to 12 months ago
20.1
1 to 2 years ago
31.2
More than 2 years ago
30.6
I don't remember
7.5
Number of respondents
640
Table C.29. What was the main reason why you started using mobile banking when you did? Percent, except as noted
Q29
Refused
0.8
I got a smartphone
32.2
My bank started offering the service
16.2
There is no bank branch or ATM near my home or work
4.4
I became comfortable with the security of mobile banking
5.8
I liked the convenience of mobile banking
37.4
To receive fraud alerts or check my account for fraudulent transactions
1.2
Other (Please specify):
2
Number of respondents
640
Table C.30. Have you made a mobile payment in the past 12 months? Percent, except as noted
Q30
Refused
0.9
Yes
17.1
No
82
Number of respondents
2,341
Table C.31. Using your mobile phone, have you done each of these in the past 12 months? Percent, except as noted
Q31
Transferred money directly to another person's bank or other financial account
14.5
Received money from another person's bank or other financial account
11.7
Paid for a product or service at a store
16.9
Paid for parking, a taxi, or public transit using an app
4.2
Paid bills online through a mobile web browser or app
23.8
Made a payment using a text message
5
Used an app to receive loyalty or reward points
13.2
Made an online purchase
30
Number of respondents
1,365
Table C.32a. When you used a mobile phone to pay for something at a store, have you used your phone in each of these different ways? Percent, except as noted
Q32a
Waved or tapped my mobile phone at a cash register
13.5
Scanned a barcode or QR code using your mobile phone to make a mobile payment
38.7
Used a mobile app that doesn't require tapping the phone at a cash register or scanning a barcode to pay for a purchase
18
Other (Please specify):
2.6
Number of respondents
206
Table C.32b. When making mobile payments, which of the following payment methods do you use? Percent, except as noted
Q32b
Refused
3
Credit card
41.6
Debit card
53.5
General purpose prepaid card
5.4
Bank account
40.4
Charges to your phone bill
4.4
Account at a non-financial institution
8.6
Other (Please specify):
5.1
Number of respondents
372
Table C.33.a. In the past month, how many times have you used your mobile phone to make any type of mobile payment? Percent, except as noted
Q33a
Mean value
3.1
Median value
2
Number of respondents
336
Table C.33.b. In the past month, how many times have you used your mobile phone pay for a product or service at a store? Percent, except as noted
Q33b
Mean value
1.8
Median value
0
Number of respondents
203
Table C.34. Have your used each of the following mobile payment services in the past 12 months? Percent, except as noted
Q34
Starbucks mobile payments
13.6
Google Wallet
6.6
Square Wallet
4.8
PayPal In-Store Payment
10.9
LevelUp
0.1
Dwolla
0.9
Isis
1
Tabbedout
1
Number of respondents
331
Table C.35. When did you start using mobile payments? Percent, except as noted
Q35
Refused
3.4
In the last 6 months
18.3
6 to 12 months ago
19.7
1 to 2 years ago
18.3
More than 2 years ago
14.9
I don't remember
25.4
Number of respondents
372
Table C.36. What was the main reason why you started using mobile payments when you did? Percent, except as noted
Q36
Refused
4.3
I got a smartphone
25.8
The ability to make mobile payments became available
13.7
I became comfortable with the security of mobile payments
6.7
I liked the convenience of mobile payments
37.1
A store I visit started offering the service
1.8
To take advantage of loyalty or rewards points and discounts
4
Other (Please specify):
6.7
Number of respondents
372
Table C.37. Please tell us if each of the reasons below are why you do not use mobile banking: Percent, except as noted
Q37
I'm concerned about the security of mobile banking
69
My banking needs are being met without mobile banking
88.7
I don't see any reason to use mobile banking
75.3
The mobile phone screen is too small
44.2
I don't have a smartphone
43.6
My bank charges a fee for using mobile banking
6.6
I don't do the banking in my household
12.4
I don't trust the technology
34.6
I don't have a bank account
4
It's too difficult to use mobile banking
16.7
Number of respondents
782
Table C.38. You mentioned that security was one of your top concerns with mobile banking; which one of the following are you most concerned with? Percent, except as noted
Q38
My phone getting hacked
12
Someone using my phone without permission to access my account
4.8
Someone intercepting my data
24.7
Losing my phone or having my phone stolen
8.4
Malware or viruses being installed on my phone
2.2
Companies misusing my personal information
2.6
All of the above
44.6
Other (Please specify):
0.6
Number of respondents
538
Table C.39. Assuming that the concerns that you have about using mobile banking were addressed, would you be interested in doing any of the following activities with your mobile phone? Percent, except as noted
Q39
Refused
0.4
Download your bank's mobile banking app
26.1
Check an account balance or check recent transactions
38.8
Make bill payments
24.7
Receive text message or e-mail alerts from your bank
28.9
Deposit a check electronically using your mobile phone camera
26
Transfer money between accounts
26.5
None, I don't want to use mobile banking
50.6
Number of respondents
782
Table C.40. If your bank or credit union were to offer mobile banking, would you be interested in doing any of the following with your mobile phone? Percent, except as noted
Q40
Refused
0.8
Download your bank's mobile banking app
10.7
Check an account balance or check recent transactions
18.3
Make bill payments
8.7
Receive text message or e-mail alerts from your bank
11.2
Deposit a check electronically using your mobile phone camera
6.9
Transfer money between accounts
7.6
None, I don't want to use mobile banking
75.8
Number of respondents
769
Table C.41. Please tell us if each of the reasons below are why you do not use mobile payments: Percent, except as noted
Q41
I'm concerned about the security of mobile payments
63.4
It's easier to pay with cash or a credit/debit card
76.4
I don't see any benefit from using mobile payments
60.6
The places I shop don't accept mobile payments
27.1
I don't have the necessary feature on my phone
45.5
I don't trust the technology
44
It's difficult or time consuming to set up or use mobile payments
33.5
I don't need to make any payments or someone else pays the bills
22.9
I don't really understand all the different mobile payment options
37.3
Number of respondents
1,956
Table C.42. You mentioned that security was one of your top concerns with mobile payments; which one of the following are you most concerned with? Percent, except as noted
Q42
Refused
0.4
My phone getting hacked
9.8
Someone intercepting my payment information or other data
22
Losing my phone or having my phone stolen
9
Malware or viruses being installed on my phone
2
Companies misusing my personal information
3.8
All of the above
51.9
Other (Please specify):
1.1
Number of respondents
1,258
Table C.43. Assuming that the reason(s) why you do not currently use mobile payments was addressed, would you be interested in doing any of the following activities with your mobile phone? Percent, except as noted
Q43
Refused
1.4
Making payments to another person
11.1
Using my mobile phone to pay for purchases at a store
16.2
Paying bills online
20.8
Transferring money to someone in another country
3.8
Using your mobile phone as a "virtual wallet" to replace some cards in your wallet
12.8
Buying goods or services online
17.3
Accepting payments from another person
11.6
Receiving/using coupons on your phone
22.2
Receiving specials and discount offers
20.1
None, I don't want to use mobile payments
62.1
Number of respondents
1,956
Table C.44. How safe do you believe people's personal information is when they use mobile banking? Percent, except as noted
Q44
Refused
1.3
Very safe
6
Somewhat safe
32.1
Somewhat unsafe
25.5
Very unsafe
18
Don't know
17.2
Number of respondents
2,341
Table C.45. How safe do you believe people's personal information is when they use a mobile phone to pay for a purchase at a store? Percent, except as noted
Q45
Refused
1.7
Very safe
4.3
Somewhat safe
29.9
Somewhat unsafe
26.5
Very unsafe
19.3
Don't know
18.3
Number of respondents
2,341
Table C.46. Would you or do you already like to use your mobile phone for any of the following purposes, assuming they were made available to you? Percent, except as noted
Q46
Refused
1.3
Track your finances
27.7
Organize, track, and store gift cards, memberships, loyalty, and reward points
14.9
Compare prices when shopping
33.6
To receive and manage discount offers and coupons
24.8
To receive offers and promotions based on your location
18.5
None of the above
50.4
Number of respondents
2,341
Table C.47. I am willing to allow my mobile phone to provide my location to companies I shop with regularly so that they can offer me discounts, promotions, or services based on where I am. Percent, except as noted
Q47
Refused
2
Strongly agree
4.9
Agree
31.4
Disagree
33
Strongly disagree
28.6
Number of respondents
1,365
Table C.48. I am willing to allow my mobile phone to provide personal information such as my sex, age, friends, and shopping history to companies I shop with regularly so that they can offer me targeted discounts, promotions, or services. Percent, except as noted
Q48
Refused
2.5
Strongly agree
2.9
Agree
16.4
Disagree
37.6
Strongly disagree
40.6
Number of respondents
1,365
Table C.49. Have you ever used your mobile phone to comparison shop over the Internet while at a retail store? Percent, except as noted
Q49
Refused
2.4
Yes
43.5
No
54
Number of respondents
1,365
Table C.50. Have you ever used a barcode scanning app on your mobile phone while shopping at a retail store to find the best price for an item? Percent, except as noted
Q50
Refused
2.3
Yes
30.7
No
67
Number of respondents
1,365
Table C.51. Have you ever scanned a QR code (similar to a barcode) in a retail store, newspaper, magazine, or billboard advertisement to obtain information about a product on your mobile phone? Percent, except as noted
Q51
Refused
2.3
Yes
33
No
64.8
Number of respondents
1,365
Table C.52. Has using your mobile phone to compare prices while you were shopping at a retail store ever changed where you made your purchase? Percent, except as noted
Q52
Refused
0.3
Yes
68.5
No
31.3
Number of respondents
687
Table C.53. Have you ever used your mobile phone to browse product reviews or get product information while shopping at a retail store? Percent, except as noted
Q53
Refused
2
Yes
41.6
No
56.4
Number of respondents
1,365
Table C.54. Has reading product reviews on your mobile phone while shopping at a retail store ever changed which item you ended up purchasing? Percent, except as noted
Q54
Refused
0.8
Yes
73.7
No
25.5
Number of respondents
586
Table C.55. In the past 12 months, have you used your mobile phone to check your account balance or available credit before making a large purchase? Percent, except as noted
Q55
Refused
2.1
Yes
68.9
No
29
Number of respondents
610
Table C.56. Did you decide not to buy that particular item because of the amount of money left in your account or the amount of your available credit? Percent, except as noted
Q56
Refused
2
Yes
49.6
No
48.4
Number of respondents
393
Table C.57. If your were offered the option of using your mobile phone to pay for purchases in store, how likely would you be to use it? Percent, except as noted
Q57
Refused
1.6
I already use it
2.4
Very likely
6.3
Likely
15.2
Unlikely
30.1
Very unlikely
44.5
Number of respondents
2,341
Table C.58. How likely do you think it is that mobile payments will become a major way people make payments in stores in the next 5 years? Percent, except as noted
Q58
Refused
1.4
Very likely
16.8
Likely
40.8
Unlikely
12.9
Very unlikely
9.9
Don't know
18.2
Number of respondents
2,341
Table C.59. Do you plan to use your mobile phone to make a payment in a store in the next 12 months? (Asked of those with a smartphone) Percent, except as noted
Q59
Refused
0.4
Definitely will use
2.3
Probably will use
15.1
Probably will not use
44
Definitely will not use
38.1
Number of respondents
1,145
Table C.60. Do you use your mobile phone to track purchases and expenses? Percent, except as noted
Q60
Refused
1.4
Yes
24.2
No
74.4
Number of respondents
1,365
Table C.61. Do you use any of the following method to track purchases on your mobile phone? Percent, except as noted
Q61
Refused
6.3
A mobile app for expense tracking
31.2
A service provided by my bank
42.8
A spreadsheet
7.5
Online
33.6
Take notes in a notepad or word processor
15.1
Number of respondents
297
Table C.62. Do you receive each of the following kinds of alerts? Percent, except as noted
Q62
Refused
5.1
Low-balance alerts
52
Payment due alerts
42.2
Saving reminders
7.9
Fraud alerts
38.1
Credit card balance alerts
25
Deposit or withdrawal alert
41.4
Statement available notification
48.5
Other (Please specify)
3.5
Number of respondents
400
Table C.63.Thinking of the most recent low-balance alert you received, which of the following actions did you take after receiving the alert? Percent, except as noted
Q63
Refused
0.2
Transferred money into the account with the low balance from another account
46.6
Deposited money into the account with the low balance
32.4
Reduced my spending
37.2
None of the above
18.9
Number of respondents
201
Table C.64. Which one of the following statements comes closest to describing the amount of financial risk that you are willing to take when you save or make investments? Percent, except as noted
Q64
Refused
1.7
Take substantial financial risks expecting to earn
substantial returns
4
Take above average financial risks expecting to earn
above average returns
14.5
Take average financial risks expecting to earn average returns
34.9
Not willing to take any financial risks
44.9
Number of respondents
2,657
Summary Statistics for Demographics
Table C.65. Summary statistics for demographics: Full sample
Mean
Standard deviation
Age
46.8379
16.8847
Male
0.4810
0.4997
Female
0.5190
0.4997
18-29
0.2076
0.4057
30-44
0.2566
0.4368
45-60
0.2747
0.4465
Ages over 60
0.2610
0.4393
Less than high school
0.1215
0.3268
High school degree
0.2954
0.4563
Some college
0.2906
0.4541
Bachelor's degree or higher
0.2925
0.4550
White, non-Hispanic
0.6690
0.4707
Black, non-Hispanic
0.1154
0.3196
Other, non-Hispanic
0.0605
0.2385
Hispanic
0.1421
0.3492
2 or more races, non-Hispanic
0.0130
0.1132
Less than $25,000
0.2015
0.4012
$25,000-$39,999
0.1764
0.3812
$40,000-$74,999
0.2530
0.4348
$75,000-$99,999
0.1403
0.3474
Greater than $100,000
0.2289
0.4202
Married
0.5117
0.5000
Not married
0.4883
0.5000
Northeast
0.1810
0.3851
Midwest
0.2163
0.4118
South
0.3699
0.4829
West
0.2327
0.4227
Employed
0.5583
0.4967
Unemployed, in labor force
0.0822
0.2747
Not in labor force
0.3595
0.4800
Observations
2,657
Table C.66. Summary statistics for demographics: Smartphone users
Mean
Standard deviation
Age
41.2823
14.6837
Male
0.4846
0.4999
Female
0.5154
0.4999
18-29
0.2811
0.4497
30-44
0.3309
0.4707
45-60
0.2576
0.4375
Ages over 60
0.1303
0.3368
Less than high school
0.0803
0.2719
High school degree
0.2524
0.4345
Some college
0.3048
0.4605
Bachelor's degree or higher
0.3625
0.4809
White, non-Hispanic
0.6352
0.4815
Black, non-Hispanic
0.1083
0.3109
Other, non-Hispanic
0.0722
0.2589
Hispanic
0.1704
0.3761
2 or more races, non-Hispanic
0.0139
0.1171
Less than $25,000
0.1227
0.3282
$25,000-$39,999
0.1374
0.3444
$40,000-$74,999
0.2668
0.4424
$75,000-$99,999
0.1724
0.3779
Greater than $100,000
0.3006
0.4587
Married
0.5455
0.4981
Not married
0.4545
0.4981
Northeast
0.1655
0.3717
Midwest
0.1951
0.3965
South
0.3855
0.4869
West
0.2539
0.4354
Employed
0.6871
0.4638
Unemployed, in labor force
0.0895
0.2855
Not in labor force
0.2234
0.4167
Observations
1,365
Table C.67. Summary statistics for demographics: Feature phone users
Mean
Standard deviation
Age
53.8976
16.8598
Male
0.4669
0.4992
Female
0.5331
0.4992
18-29
0.1185
0.3234
30-44
0.1596
0.3664
45-60
0.2968
0.4571
Ages over 60
0.4251
0.4946
Less than high school
0.1332
0.3400
High school degree
0.3388
0.4735
Some college
0.2862
0.4522
Bachelor's degree or higher
0.2418
0.4284
White, non-Hispanic
0.7488
0.4339
Black, non-Hispanic
0.1039
0.3053
Other, non-Hispanic
0.0333
0.1794
Hispanic
0.1017
0.3024
2 or more races, non-Hispanic
0.0123
0.1102
Less than $25,000
0.2480
0.4321
$25,000-$39,999
0.2236
0.4169
$40,000-$74,999
0.2485
0.4324
$75,000-$99,999
0.1167
0.3212
Greater than $100,000
0.1632
0.3697
Married
0.5220
0.4998
Not married
0.4780
0.4998
Northeast
0.1920
0.3941
Midwest
0.2377
0.4259
South
0.3630
0.4811
West
0.2073
0.4056
Employed
0.4468
0.4974
Unemployed, in labor force
0.0596
0.2369
Not in labor force
0.4936
0.5002
Observations
962
Table C.68. Summary statistics for demographics: All mobile phone users (feature and smartphone)
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