Digital payment apps in smartphones, so-called digital wallets, have yet to catch on with customers, the chief executive of consumer banking for JPMorgan Chase & Co said on Monday.

Apple Pay, Android Pay, and Samsung Pay are being used for less than 1 percent of payments at retailers, Gordon Smith said, citing industry data at an investor conference.

Ultimately, the convenience of paying with phones will bring a surge of use from consumers, but it is impossible to know when that inflexion point will be reached, said Smith. Chase last year announced its own application called Chase Pay to hold account credentials for use at checkout counters.

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