Mobile payment users tend to skew young, with more than 7 in 10 belonging to the Millennial (39%) or Gen X (33%) generations, reports the Pew Charitable Trust in recently-released results of a survey conducted by SSRS. The data also reveals that compared to non-users, mobile payment users tend to have higher incomes and higher levels of education.
Indeed, roughly 4 in 10 mobile payments users have incomes of at least $75k, almost double the proportion (22%) of non-users. And more than one-third (36%) have at least a college degree, versus one-quarter of non-users.
Not surprisingly, mobile payments users also more likely to be banked, as only 9% are in the realms of the unbanked, compared to 20% of non-users.