Consumers don’t trust contactless payment » SMEInsider

Consumers don’t trust contactless payment

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Purchases made using contactless payment are on the increase, yet many shoppers are still hesitant to use it, new research has found.

An online poll of more than 2,000 people about their attitudes to the payment method found that 31 cent of UK consumers never pay by contactless as they don’t trust it.

Use among women is slightly higher, with 29 per cent saying they never use contactless, compared with 35 per cent of men.

 

Youngsters more trusting

Age also plays a role, with younger people more inclined to pay with contactless cards. Among over 55s, almost half (43 per cent) never use them, while less than a quarter (22 per cent) of those under 35 said they never use contactless payment.

Some 14 per cent of respondents admitted not knowing if their cards are contactless of not, while around a quarter (27 per cent) agreed that the current maximum payment of £30 is about right.

The findings of the survey, conducted by business intelligence consultancy Future Thinking and survey company Toluna, come as the UK Cards Association figures show that consumers spent more than £7.5bn through more than one billion transactions in 2015.

 

Tech is the way forward

Noreen Kinsey, senior research director at Future Thinking, said: “It is clear from recent figures that there has been a huge increase in the number of purchases using contactless technology. This reflects consumer desires for quicker payment methods and increased convenience.

“As with all new technologies there is still some reluctance towards this technology, particularly amongst older age groups, who may be further isolated as we move towards mobile pay and other tech-enabled purchase solutions.”