An estimated 135.8 million people will shop for holiday gifts this Thanksgiving weekend, with many of them braving long lines and pushy shoppers to shop in person, according to the National Retail Federation.
While they’ll certainly be buying high-tech gifts, from 4K televisions to Star Wars-themed holiday lights, their payment methods will still be old school. Nearly 40% of holiday shoppers are planning to make most of their purchases in cash, according to a survey from personal finance website Bankrate.
Very few shoppers will make their purchases with mobile payments, despite some recent incentives retailers and credit-card companies have offered them for doing so, and industry watchers say it’ll likely be a while before these payments become mainstream.
Only 14% of U.S. adults with a smartphone or similar device plans to make even one purchase using mobile payments during the holiday season, according to personal-finance website Bankrate. And shoppers aren’t just hesitant to use mobile payments during the holidays; only 18% of North Americans surveyed by Accenture over the summer said they use mobile phones to make at least one payment a week.
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