Consumers trust credit card firms when it comes to mobile payments

Mobile payment technology has become something of a sensation among consumers and business leaders alike.

Mobile payment technology has become something of a sensation among consumers and business leaders alike. While the true prospect of a mobile wallet is still somewhat elusive in the U.S., many Americans are eagerly awaiting its arrival.

Still, a number of logistical issues remain, one of the most pressing of which involves the transmission of financial data along the chain of payment terminals, mobile devices and bank account or credit statements. For this reason, firms from seemingly disparate industries have created joint ventures to meet the growing demand.

Recently, marketing agency Ogilvy & Mather conducted a survey analyzing consumers' relative trust in companies involved in the fledgling mobile payments industry. According to AdAge, the results show consumers hold greater trust in credit card companies and financial services than tech giants such as Google or Apple when it comes to mobile payments.

"When asked 'Who do you trust with mobile payments?' nearly 40 percent of consumers chose Visa," reports Kunur Patel for the source. "MasterCard and American Express weren't far behind, with nearly 36 percent apiece. While eBay scored low, its payments brand, PayPal, wasn't far behind the credit-card companies, with 34 percent of respondents expressing trust."