According to the Scotsman, consumers have remained wary of new contactless payment technology, with one in four stating that they find the thought of paying for something without entering a pin number ‘scary.’ Only 6 percent of respondents have used contactless technology which allows users to purchase goods priced under GBP15 without entering any form of security pin.
The Gocompare.com research found that although some consumers were unsure of contactless technology in fact just over a quarter of those surveyed expected to be paying for items via their mobile phone by 2023 and 19 percent think they will be using some type of biometric payment including a fingerprint or eye scanner to pay for items by the same year.
The results demonstrated a mix between opinions showing a divide between those who were ‘scared’ and those who felt that technology was developing and heading towards a cashless society. “Our relationship with money; the way we’re paid and the way in which we pay for goods and services, has changed dramatically over the last few decades, but are we ready to become a cashless society?,” said Gocompare.com spokesman John Miles.
A SmartDebit spokesperson explained, “Recent research suggested consumers are becoming more comfortable with using contactless terminals and are beginning to move away from using cash to purchase smaller items. However, the security aspect, which has been consumers primary since its inception, is still hindering the growth in contactless payment usage. A lot of people are still unaware that contactless payments are guaranteed by their bank and have sophisticated underlying technology to prevent fraudulent practices.”
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