Despite growing smartphone dependence, most Americans still aren’t using the devices to pay for things.

Places such as China and India are witnessing rapid adoption of smartphone payments. In China, for example, more than 80% of consumers used mobile payments last year, according to management consultancy Bain. In the U.S., major mobile payments apps had adoption rates of less than 10%.

“The U.S. is not a leader when it comes to mobile payments — at best, it’s the middle of the pack compared to other countries,” said Gerard du Toit, a partner with Bain & Company and head of the banking and payments sector of the firm's financial services practice in North America.