Mobile payments demographically divided

For retailers or financial institutions looking to implement alternative credit options such as electronic payments to attract new consumers and engage existing customers, they may want to take heed of how different demographics use the technology.

According to a recent study from Onavo Insights, mobile payment apps and platforms have rapidly expanded in the United States over the last year. However, some proved to dominate the market. Starbucks topped the list, with the vast majority of the $500 million spent via mobile apps stemming from payments made at the coffee giant's outlets.

Women make up more than half of Starbucks' app users, with 54 percent. However, compared to men, women's overall rate of a mobile payment app usage is lower, suggesting developers who are looking to broaden their appeal and improve women's engagement may want to take a few cues from Starbucks.

Additionally, Starbucks had the highest user retention rate across genders. The study suggested that part of its appeal may stem from the fact that it's not just a payment app - it allows individuals to download free songs, locate stores and access menus.

Earlier this year, Starbucks President and CEO Howard Schultz told Mobile Commerce Daily that the chain is processing three million mobile transactions every week.