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Tuesday 07 April 2020

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UK consumers ‘reject mobile payments’

Written by Peter Walker
30/10/18

Despite the hype, research by IDEX Biometrics has revealed that mobile payments are almost as unpopular as cheques, with payment cards still overwhelmingly the most popular method when it comes to in-store purchases for UK consumers.

The fingerprint identification technology firm carried out 1,000 interviews in the UK using an online methodology amongst a nationally representative sample of adult consumers. It found that three quarters of respondents use cards - including contactless - most often, compared to cash (21 per cent), mobile payments (three per cent) and cheques (one per cent).

The survey also showed that 72 per cent were concerned about the possibility of no longer having access to a physical debit card and needing to rely on mobile payments only.

IDEX suggested that consumers’ personal attachment to the payment card is virtually unbreakable, with 65 per cent of respondents stating that carrying their debit cards provides a sense of security.

A further 65 per cent of those questioned said that they wouldn’t give up their debit card in favour of mobile payments and 78 per cent admitted to feeling more secure using their debit card in comparison to mobile payments.

The research also revealed that 60 per cent would be worried they would lose access to their accounts if they lost their mobile phone.

“It is evident that the UK public won’t be ditching payment cards in favour of mobile payments in the near, or even distant, future,” said Dave Orme, senior vice president at IDEX.



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