PayPal conducted a survey (view press release) via Wakefield Research of 1,000 credit and debit card holders in the US, UK, Canada, Germany and Australia which has revealed a reluctance in consumers to carry a wallet, particularly when at the beach or gym: 83% said they wished they did not carry a wallet.
Moreover, when asked what they would choose if they could carry only a smartphone or a wallet, 20% of Americans and 32% of UK respondents chose the smartphone option.
The survey has also found that businesses are not keeping up with this digital payment reality: 68% of Americans and 75% of Canadians said they were not able to pay for something because they did not have cash on them.
To this end, PayPal has launched Cash for Registers which helps merchants trade in their registers for technology that will help them accept PayPal and card payments.
According to David Marcus, PayPal President: “It’s not about replacing cash or your credit card with a new payment method, it’s about using technology to solve real shopping pain points. PayPal is at the forefront of developing products that make life easier, help shoppers be more efficient, and untether consumers from their wallets forever.”
PayPal has also introduced Check In and Order Ahead, which provides its 128 million customers simpler payment experiences.
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