Mobile wallets are becoming increasingly popular in Hong Kong. The first market player entered the market in 2015, and since then more than 10 different brands have emerged. The emerging market as a whole is expected to grow substantially in the near future.

Big growth and moderate penetration are forecast

Nearly all online shoppers (95%) are aware of any mobile wallet in the Hong Kong market, particularly among those aged 15-24, and as many as 99% have heard of at least one mobile wallet service. About two-thirds of online shoppers are now using mobile wallet services. Even for mature shoppers aged 50-64 there is a moderate level of use, 54%.

The market is continuing to grow. Looking over the coming 12 months, as many as 86% of non-users say they will use mobile wallet services. So correct marketing strategies that reduce or eliminate barriers to non-users and motivate greater use among users are critical in gaining market share.

Security concerns are the biggest obstacle to mobile wallet

60% of non-users express worries about transaction security, the main reason given for not using it. About half say they are afraid that if they lose their mobile phone they will also lose money. Improving or promoting security features is undoubtedly the top priority in increasing use, particularly among  mature consumers.

Convenience and promotion/incentives promote use

“Convenience” is cited as the major benefit to those using mobile wallets, especially in younger and mature groups. On the other hand, promotion and incentives are less appealing to those aged 15-24. Marketing strategies that emphasize the benefits (“convenience”) of the mobile wallet using promotions and incentives are likely to increase its use.

ABOUT NIELSEN e-FINANCE MONITOR

Digitization is transforming business around the world. Digital financial services are becoming vital in the modern economy, and Nielsen launched e-Finance Monitor 2017 in the hope of understanding more about consumer behavior in the digital financial world. The study consists of three parts: Mobile Money, ePayment and Online Insurance. All three parts cover more than 2,000 respondents from Hong Kong through face-to-face and online interviewing with different timelines spanning from March 2016 to August 2017.

关于尼尔森

尼尔森控股有限公司（纽约证券交易所股票代码：NLSN）是一家全球性的测量和数据分析公司，为全球消费者和市场提供最全面、最可靠的信息。我们的方法是将尼尔森的专有数据与其他数据源相结合，帮助全球客户了解现在发生了什么、接下来会发生什么，以及如何根据这些知识采取最佳行动。90 多年来，尼尔森以严谨的科学态度和创新精神为基础，不断开发新的方法来回答媒体、广告、零售和快速消费品行业面临的最重要的问题，提供数据和分析服务。尼尔森是标准普尔 500 强企业之一，业务遍及 100 多个国家，覆盖全球 90% 以上的人口。欲了解更多信息，请访问 www.nielsen.com。