Study Says People Who Use Mobile Payments More Likely To Overspend
A new study from the University of Puget Sound in Washington seems to show that people who use mobile payment methods had 34% higher odds of spending more than their annual income. The team analyzed the spending habits of over 21K American adults, 37% of which said they use systems like Apple Pay, Google Pay, and Samsung Pay.
The researchers found something else; they say that mobile payment users were also 31% more likely to have problems paying their bills and expenses. The team suspects that the reason this happens is, at least in part, because mobile pay lets people avoid the “pain” of paying.
Source: Daily Mail