This article talks about how despite the push of mobile payments from banking and technology companies, many retailers have been slower to adopt this FinTech.
In my experiences and opinion, the article is accurate about the primary reasons why this is the case. I haven’t seen many people use mobile payments in stores, and when it comes to credit cards, my experiences tell me that people don’t like change. For example, when cards started having security chips, I saw many consumers initially express annoyance with them, even though the chips were beneficial. Why? Because people weren’t used to them, and made people break their established ways. In addition, even though mobile payments are supposed to be safer, major security breaches in technology (Target, Yahoo, etc.) seem to get more attention from the media than card fraud. Because of this, many people might still think that putting credit card info on phones is unsafe. I think another reason for the struggle for acceptance is that too many stores may be developing their own system. It may be hard to convince consumers that they need to download Apple Pay and Starbucks payment and Wal-Mart payment and CVS payment and so forth when they can just use a single physical card for all these stores.
http://digiday.com/brands/retailers-struggling-adopt-mobile-payments/