Recent study by Policis and Toynbee Hall identifies payments barriers for elderly

Elderly struggle with payments

Research by Policis and Toynbee Hall has revealed that over 80’s are encountering a number of barriers in terms of accessing and using payment systems. While the internet and smartphones have allowed some to utilise certain payment methods, many still face obstacles to accessing goods and services.

The report-‘Consumer research with ‘older old’ consumers and those living with cognitive, physical and sensory disabilities’– which was funded by the Payments Council, highlighted a number of important areas to be looked at to improve the provision of payment services for the elderly and other vulnerable groups. These are: physical barriers to using ATMs and bank branches; lack of standardisation at ATMs; issues with dexterity, memory or visual impairment when using payment terminals, internet banking and shopping; lack of options when delegating payments to others whilst trying to maintain privacy.

Commenting on the research, a spokesperson for payment processing specialists SmartDebit said: “The payments industry will continue to produce innovative products and services, so it is highly important that such methods are accompanied by user-friendly guidelines. The research highlights the challenges that older and disabled people face when making payments and highlights the issues that should be key in the improvement of payment services in the UK”.

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