For Retailers, Smartphones May Not Yet Mean Payments, But They Do Mean Purchases: Study

TechCrunch

Square’s $200 million Series D and $3.25 billion valuation yesterday may have risen expectations massively for where mobile payments will ultimately go, but for now the vast majority of us are still pulling out our cash, cards and checks to buy things. A study from Deloitte notes that today in the UK only 1% of mobile consumers have ever used a handset to pay for something in a retail location. However, it also provides some convincing evidence that we are at least well on our way to linking mobiles — specifically smartphones — to retail purchases anyway.

In the U.S. Deloitte says that using apps and mobile web sites while shopping accounted for a 5% bump in retail sales, equating to $159 billion in in-store sales. In the UK the proportion was slightly higher, but that the actual value was lower: mobile usage gave a 6% bump, or £15.2 billion ($24.7…

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