A fifth of Brits prefer using mobile phones to make payments in shops.
Posted on in Business News , Cycles News
One in five UK consumers (20%) prefer using mobile payment services such as Apple Pay over cash (17%) or chip & PIN card payments (10%) for in-store purchases, a new survey has reported.
Contactless card payments remain the most popular payment option (48%), but younger consumers are driving the adoption of services such as Apple Pay and Google Pay, with three in ten 18-24-year-olds identifying mobile payments as their preferred option (30%), according to the survey.
Nearly nine in ten of those who prefer contactless payments say convenience is one of the key reasons for doing so (88%).
“Cash, on the other hand, may not be the convenient option it once was, as two in five (40%) respondents who preferred contactless said they never carried cash. In fact, nearly a third (31%) of all survey respondents said that they never carried cash, while one in fifteen (7%) admitted that they didn’t even know their PIN,” the researchers say.
“Less than half (47%) of our respondents said they would happily shop with a cash-only business, while one in seven people (13%) said that they wouldn’t because they never carry cash. One in three (33%) would still consider shopping with a cash-only business but admit that they’d find it a hassle.”
The survey also found that men are 22% less likely to choose contactless payments and that uptake varies between different UK regions, with consumers in Scotland the most likely to prefer contactless payments (63%) and consumers in Wales the least likely (33%).