Rise of the technophobe – education key to tech adoption, says HSBC — HSBC — “The study of more than 12,000 people in 11 countries reveals four in every five people (80%) believe that technology makes their lives easier but less than half (46%) trust fingerprint recognition to replace their password, despite it being recognised to be at least five times more secure and significantly more convenient than traditional passwords.”
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7 in 10 mobile payment users cite security concerns: report
7 in 10 mobile payment users cite security concerns: report — Yonhap News — “Nearly seven out of 10 South Koreans using mobile payment services cited security concerns… According to the report by market researcher DMC Media, 68.8% of the users were satisfied with using financial services via mobile platforms… 88% of the adults had used some sort of mobile payment tool in the past six months, up 8.8% from a survey conducted a year earlier.”
Digital, decisive and drone-ready: American Express commissioned study shows Gen Z’s customer experience expectations
Digital, decisive and drone-ready: American Express commissioned study shows Gen Z’s customer experience expectations — American Express — “33% of Gen Z respondents have used a device specific mobile wallet (i.e. Apple Pay, Samsung Pay or Android Pay) in the last three months, compared to only 22% of Gen Y.”
Bakeries, pubs and bars top UK contactless payment locations
The highest percentage of contactless payments across the UK are taking place in bakeries (62.5%) followed by pubs and bars (48.2%), caterers (47.8%), takeaway restaurants (45.5%), news dealers and newsstands (44.9%) and restaurants with 42.7%, research released by merchant services provider Paymentsense reveals. More
Disconnected experiences put customer loyalty at risk
Disconnected experiences put customer loyalty at risk — MuleSoft — “Nearly half of UK consumers (48 per cent) would be happy for banks to share their banking transaction history with a trusted third-party if it gave them a more personalised banking experience… Nearly a third (30 per cent) of UK respondents would consider using Amazon, Google, Facebook or Apple for banking services if it was offered, rather than using their standard bank.”
One in three Americans now uses mobile P2P payments
More than a third of US consumers (36%) are now using person-to-person (P2P) mobile payment services, with millennials leading the way at nearly double that rate (62%), research released by Bank of America reveals... More
Apple Pay sees double-digit growth, ties with PayPal
Apple Pay sees double-digit growth, ties with PayPal — Branding Brand — “New shopping data from Branding Brand shows in-app purchases with Apple Pay increased 17% from March 2017 to April 2017… When asked to rank their favorite in-app payment systems, PayPal and Apple Pay tied for first place. Overall, 70% of Apple Pay users want more retailers to offer the service.”
UK consumers want at least three security steps to secure bank accounts
Six in ten UK consumers (60%) think that having fewer than three security steps including passwords, card readers or letters from a memorable word is “insufficient” to secure their bank account, research released by Equifax and YouGov reveals... More
Kiwis warm to mobile, wearable and biometric payments
Nearly six in ten New Zealanders (59%) think mobile payments will be the next major payments technology to take off, followed by payments using wearables like smartwatches (47%) and biometrics such as facial recognition and fingerprints (42%), research released by Mastercard reveals. More
Contactless proving popular with UK over 50s
Almost 12m UK consumers aged over 50 are actively using contactless payments today, with one in five doing so up to three times a week, research released by Saga Money reveals... More
UK consumers show concerns over new payment methods
Almost four in five UK consumers (77%) have concerns about using new payment methods, research released by law firm Paul Hastings reveals, with risk of fraud cited as the main reason by 59%, followed by data security incidents (49%) and risk of theft (45%)... More
Customer satisfaction high for banks offering mobile payments
Customer satisfaction, overall brand image and retention metrics for banks are higher among customers who have a mobile payment service linked to their bank account, findings from the J.D... More
WeChat Pay and offline mobile payments see “incredibly high” uptake in China
Nine in ten Chinese mobile internet users (92%) choose mobile payment apps such as WeChat Pay as their primary offline payment method today, research released by Tencent Online Media Group’s newly launched research project China Tech Insights reveals, while “smartphone built-in payment tools” such as Apple Pay are currently used by approximately 12%. More
Kiwi millennials want biometrics for payments
Some 62% of New Zealand’s millennials would like to use a fingerprint or retina scan to make payments, viewing biometrics as “secure and convenient and having the cool factor”, research released by Visa reveals... More
UK consumers want more biometric security options for online banking
More than half of UK consumers (56%) would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online, research released by Equifax reveals. 33% would prefer to use fingerprint recognition, 31% would like to use iris scanners, 7% facial recognition and 3% voice recognition. More
Study reveals US attitudes to authentication methods
Nearly half of US millennials (48%) are willing to switch from passwords to another identification method to access their bank accounts, research released by Aite Group shows. This compares to 40% of generation X, 29% of baby boomers and 16% of seniors. More
US Payments Forum offers card-not-present fraud advice
The US Payments Forum has published a survey of card-not-present (CNP) fraud worldwide to help the US payments industry assemble “layered, effective and systematic” mitigation strategies... More
Chinese millennials rush to pay by mobile in stores
More than eight in ten Chinese millennials (85.6%) use in-store mobile payments at least once a week compared to 44.7% of US millennials, research released by branding agency Labbrand reveals... More
Australian banks brand non-NFC alternatives to Apple Pay ‘unrealistic’
Relying on Android or alternatives to NFC for successful mobile payment services in a country with one of the world’s largest iPhone market shares and high contactless card use is “unrealistic”, the group of Australian banks seeking access to the iPhone’s NFC functionality say in their latest submission to the Australian Competition and Consumer Commission (ACCC)... More
Security fears hit confidence in mobile payments
More than two thirds of global consumers (70%) fear hackers could steal their personal information when they use a mobile wallet, and 67% worry their money could be stolen, a report from Oxford Economics and Charney Research says... More
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