One in four British consumers intend to use their mobile phone to make NFC-based mobile payments in the next 12 months, according to research from MasterCard. One in 20 are already making NFC mobile payments once a week or more.
“Now with more mobile handsets enabled for contactless payments, reservations are beginning to disappear and, in fact, as many as 13% of British consumers have no reservations at all,” the payment network says.
“The most common fear is losing our device. 65% of people worry that if their device falls into the wrong hands, someone can use it to buy things with their money.”
“We have built the secure foundations for these payments across our network,” says Elliott Goldenberg, head of digital payments at MasterCard UK & Ireland. “You can load your MasterCard onto your device through Android Pay, confident in the knowledge that it gives you all the benefits and consumer protection of a card transaction. Our research shows that one in three people intend to link to their credit card for that reason.
“As consumers increasingly recognise these benefits, mobile payments will begin to see the kind of growth that contactless has had over the last two years.”