Mobile Wallets Continue to Grow in Popularity Among Younger People – But There Are DrawbacksRoger Alexander of Chargebacks911® Cited in New Feature for Fintech Finance

June 20, 2024 | 2 min read

Fintech Finance

Roger Alexander, Board Advisor at Chargebacks911, was asked to weigh in on recent data from Chargebacks911 cited in Fintech Finance.

The staff at Fintech Finance aim to produce “the slickest episodes, interviews and event coverage, looking at the complete range of topics within financial services, from branches to blockchain.” They travel across borders to find the most interesting and undiscovered features, publishing an extensive magazine library including The Fintech Magazine, The Paytech Magazine, and The Insurtech Magazine.

The report found growing interest in mobile banking and mobile wallet use. “Looking at the statistics from the Cardholder Dispute Index, we can see that mobile banking is more popular with younger consumers than it is with their older counterparts,” Roger says. “This very clearly indicates mobile banking will become more popular over time...”

But, while mobile wallets are more secure than card payments in most regards, there are some security concerns that need to be addressed.

“The move to digital wallets is a boon for consumers, merchants and the entire payments ecosystem,” says Roger. “But we can’t ignore the downsides. Making payments easier has the knock-on effect of making chargebacks easier, but it is possible for merchants to have their cake and eat it.”

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