Indicators good for mobile wallet adoption

In the past, many experts have said that the largest hurdle to widespread adoption of the use of mobile wallets to make everyday purchases will be consumers' being uncomfortable with the process, but now it seems smartphone users are already heading in that direction.

The conditions seem to be favorable for widespread mobile wallet adoption, if current consumer habits are any indication, according to a new survey from Javelin Strategy and Research. By the end of last year, the number of people who had made purchases of physical items with smartphones jumped to 41 percent of users, up from just 14 percent in 2009. And it's expected that in many cases, it will be tech companies leading the way, as Apple, Google, Facebook and Amazon combined to generate revenues totaling $200 billion in mobile payments during 2011.

However, it's important to note that many banks are also viewed as being leaders in trust and privacy by their own customers, as opposed to the above companies and mobile carriers, the report said.

Because mobile wallet purchases are more secure, they can help protect consumers' finances. However, it's also important for borrowers to check their credit reports to ensure no unfair or incorrect entries are affecting them.