American consumers are reluctant to adopt mobile payment technology, viewing it as insecure and unreliable, a study conducted by enterprise software producer SAP shows.

The study revealed that they are more likely to stick to cash or credit when completing transactions, primarily due to concerns surrounding the vulnerability of their personal information and bank details.

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Nearly half of the respondents to the survey expressed fears that mobile payment systems could endanger their personal information. They also cited the inconvenience of entering personal information into small mobile devices as among the factors that makes them reluctant to stray from traditional payments methods.

The survey findings locate American consumers in contrast with growing mobile payment figures overseas. In Australia, for example, a recent study by financial services corporation MasterCard found that only 15 percent of payments in the country are now made using cash.

Meanwhile, statistics on mobile use within the US confirm the trend; compared with 63% globally, only 38% of US respondents use their mobile phones for services other than calling and texting.

However, the report concluded that American consumers are not uncompromisingly adverse to mobile payment systems. Better incentives from mobile payment providers, as well as mobile checkout support from a larger number of retailers are among features that could serve to attract them to such services.

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Senior vice president of worldwide mobile sales and solutions at SAP, Anthony Reynolds commented: "While progress is being made, companies must make a collective effort to provide consumers ease of use and benefits for mobile interactions and transactions, such as available technology, security and incentives".