But they aren't replacing cash with digital wallets, at least not in great numbers. Instead, debit cards and credit cards seem to be the payment vehicle of choice for most Americans.
The chief obstacle for digital wallets — cashless payments stored on consumers' mobile devices, made via a system called near field communications — is that Americans don't trust them to make large purchases. The above study, from Thrive Analytics, says most digital wallet transactions are for $50 or less.
The most common form of digital payments is for coffee or snacks, Thrive reports, or for things such as groceries and digital apps.
That distrust of digital wallets by consumers isn't going to dissipate after recent talk about an iCloud data breach said to result in the public release of compromising photos of major Hollywood celebrities. The breach shows the vulnerability of digital applications and points to potential security issues with payment-based digital apps that could lead to identity theft, experts say, an issue facing a major test if Apple's next generation of mobile products does indeed come with the ability to make wireless payments.
According to the June study from Thrive, security concerns are the primary reason financial consumers shy away from digital wallets — 46% of survey respondents say security is the "main barrier to adoption."