Survey: Security tops convenience for UK online payments

Brits care more about online payment security than convenience — Equifax — “Two thirds (66%) of people rate safe and secure payments as most important in the online checkout process, with only one in ten being most concerned about speed or simplicity. Security ranked highest across all age groups, and was a particular concern for over 55s (75%) compared to just over half of 18-24 and 25-34 year olds (52% and 53% respectively).”


Survey finds consumers ‘reluctant to swap passwords for biometrics’

Consumers reluctant to swap passwords for biometrics for fear of identity fraud — Paysafe Group — “Over half of consumers (56%) are worried that the shift to biometrics to authenticate online payments will dramatically increase the amount of identity fraud, according to new research conducted by Paysafe… The research found that four fifths (81%) of consumers still favour passwords for making payments online due to concerns about the security of new biometric options.”


TNS reports on consumer attitudes to wearable payments

TNS report shows alternative and cashless payments adoption at an inflection point with security a concern to wider usage — TNS — “44% of respondents are willing to make a payment using a wearable device like a ring or a bracelet; just under two-thirds (65%) expressed that security concerns would stop them from using a wearable device to make a payment; Australians are most concerned about security (68%) versus Americans (64%) and Britons (63%); more than half of male smartwatch owners have used it to make a payment.”


Visa survey highlights benefits of open loop cards for transit payments

Chase and Visa provide an easier way to get around New York City with a tap — Visa — “More than two-thirds (67%) of riders have missed a train while waiting in line to reload a transit card, according to a recent Visa survey of more than 1,000 New Yorkers who take public transportation. Eight out of ten (83%) people surveyed said they have had trouble getting their transit card to work at the turnstile. And two-thirds (66%) have left or forgotten funds on a transit card, at an average of $35.10 lost.”





German consumers warm to contactless payments

Consumer insights study on German consumers’ preferred payment methods — First Data — “Contrary to the traditional ‘cash being king’ mindset, our study reveals a definite shift in consumer preference to more convenient methods of payments… 42% believe contactless payments are more convenient… 54% of consumers believe cash will become obsolete in a few years, 52% prefer card payments… 61% agree that card payments will become increasingly available.”


Survey: Easier payment options would increase commuters’ public transportation usage by 27%

Visa global study identifies key success factors to improve daily travel, creating smarter, more efficient cities — Visa — “If it was easier to pay for public transport, average use would increase by 27%. 47% said the need for different tickets for different modes of travel is an issue, 44% said not knowing how much to pay is a problem, and 41% cited services being ‘cash-only’ as an annoyance. According to those surveyed, these frustrations make them less likely to use public transport and more likely to drive their own cars.”


Older US consumers warm to bank-led P2P payments

Make room Millennials, Zelle study finds Generation X and Boomers driving broader adoption of person-to-person (P2P) payments — Early Warning Services — “52% of Generation X and 46% of Boomer respondents said that they ‘trust’ P2P payments, and are interested in using available solutions. 76% of Generation X and 74% of Boomers surveyed ranked ‘offered through a financial institution they use’ as a top reason to trial P2P payments.”


Analysts: 43% of iPhone users have now enabled Apple Pay

Apple Pay adoption continues to climb — Loup Ventures — “We estimate, based on our survey work as well as the growth in transactions, countries, locations, and banks, that 43% of global iPhone users have enabled Apple Pay. This is up from 36% in Sep-18 and 20% in Dec-17. That implies there are currently 383m Apple Pay users, up 21% sequentially and 135% y/y… We estimate that 24% of US iPhone users have used Apple Pay vs 47% of international users.”


Two in three US banks plan to issue contactless cards ‘within the next few years’

Here’s why your next credit card will probably be contactless — Auriemma Consulting Group — “Today, just 22% of credit card companies offer contactless cards in the US market, mostly in select portfolios. But 67% of card issuers plan to introduce contactless cards within the next few years, according to new data from Auriemma Consulting Group.”




US credit unions report increase in mobile payment transaction volumes

Debit card study offered by Co-Op Financial Services highlights debit trends to watch in 2019 — Co-Op Financial Services — “A total of 55% of survey respondents have experienced increases in the number of debit cards enrolled in a mobile wallet like Apple Pay, Google Pay or Samsung Pay. Also, 53% have experienced increases in the number of debit cards transactions coming from the mobile wallet channel.”






Survey finds Apple Pay is used for three in four US debit card mobile wallet transactions

Apple Pay makes up 77% of mobile payments among debit card users — Auriemma Consulting Group — “An Auriemma study of debit card issuers shows that Apple Pay makes up 77% of mobile wallet transactions. Samsung Pay and Google Pay, Apple Pay’s main competitors, make up 17% and 6% of transactions, respectively… While Apple Pay has the most market share, Samsung Pay users are the most engaged. In fact, the average Samsung Pay user makes 7.3 transactions each month, compared to 5.5 transactions for Apple Pay and Google Pay users.”


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