DOYLESTOWN, Penn.—An increasing number of consumers are using mobile payment apps and owning cryptocurrency, a new report reveals.
According to a new survey from Cantaloupe, adoption and usage of mobile payment apps are growing. Only 14% of respondents reported not having used a mobile payment app in the past year.
PayPal was the most popular payment app, with 72% of respondents saying they had used it in the last year, compared to Cash App (32%), Venmo (26%), Google Pay (21%), Zelle (20%), and Apple Pay (19%), noted Chain Store Age in its analysis.
The study also examined trends in cryptocurrency, finding that more than one-third of respondents between the ages of 18-54 own cryptocurrency, with people ages 18-34 most likely to own it (37%), and individuals 35-54 (33%) trailing only slightly.
Furthermore, 67% of those who own cryptocurrency are willing to consider using it for purchases if it were linked to a mobile wallet.
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