Just 17% of U.K. consumers would use their phone as a mobile wallet, study reveals

. Despite the growing number of mobile payment initiatives such as ISIS and Google Wallet, only a handful of consumers actually want to use their phones as a mobile wallet. According to new research from Intersperience, just 17% of U.K. adults are interested in using their phones to purchase goods. 24% of the 1,000 participants in Intersperience's survey were afraid of security issues, although they admittedly didn't “know why.” 24% also thought their mobile phone is more likely to be stolen than a wallet. 44% of the survey respondents were afraid to use their phone as a mobile wallet due to the lack of security software.

Boy Genius Report, Just 17% of U.K. consumers would use their phone as a mobile wallet, study reveals