Aside from security, the biggest obstacle for users is fragmentation of mobile payment apps and technologies across different retailers, warns research firm Strategy Analytics.

However, the spread of Apple Pay (at least from US to UK), Google Wallet’s recent swallow of Softcard, and Samsung’s addition of LoopPay to its own payment system does signal consolidation, says the firm.

Furthermore, Samsung Pay could further resolve the issue of acceptance as consumers will be able to pay at both NFC-based terminals and those that only accept magnetic stripe cards (thanks to LoopPay’s technology).

Mind you, the report does not mention that the launch of Samsung Pay later this year risks raising more complexity, depending on whether the app is carried on Samsung handsets offered in the US by leading operators AT&T, Verizon Wireless and T-Mobile US. The three operators are backing Google Wallet by installing it on their handsets.

The study also found users are more likely to go with a payment app that comes preinstalled on their phone and can provide information as to which locations accept mobile payments.