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Index reports on consumer acceptance of NFC payments

Nine in ten of the people surveyed for a new mobile payments index who had used an NFC phone to make a payment said they would do so again but 33% said they had not heard of the technology before and 35% said they wouldn’t use it because of concerns over security and fraud.

eDigitalResearch

EDIGITALRESEARCH: Compiling a quarterly Mobile Payments Index

A new quarterly Mobile Payments Index investigating consumer perceptions of mobile payments and NFC has found that satisfaction amongst early adopters is very high, but large sections of society are still concerned about fraud and security.

The index, produced by eDigitalResearch, is based on a survey of 2,078 UK consumers, of whom approximately half own a smartphone.

Key findings included:

  • 89% of those who had made a mobile contactless payment say they are likely to use the technology again in the near future.
  • 32% of smartphone owners were not sure if their phone had a mobile wallet or had the ability to make contactless mobile payments.
  • Of the 4% who were sure their phone was capable of making mobile contactless payments, just under half (47%) said they had used it to make a purchase.
  • 27% of smartphone owners said they were likely to use mobile contactless payments more over the next year.
  • Early adopters are predominately young males
  • Consumers are most likely to use contactless mobile payments at supermarkets, fast food outlets, cafes and public transport links — places where queuing times can often exceed customer expectations.
  • 33% of those surveyed said that they had not heard of the technology before.
  • 35% said that they wouldn’t use contactless mobile payments because of concerns over security and fraud.

“It’s not surprising that we’re seeing this sort of wariness from consumers,” says Derek Eccleston, head of research at eDigitalResearch. “People need to work together to increase consumer awareness, and in turn, settle fears and tackle key issues, such as security”.

Readers can download the full findings from the survey from the eDigitalResearch website.

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