The possibilities for mobile payments are endless and could revolutionise the shopping experience." Duncan Jennings, VoucherCodes.co.uk
London (PRWEB UK) 14 March 2012
The majority of consumers would avoid paying for goods and services via their mobile phone if offered the technology, according to exclusive research from leading shopping website VoucherCodes.co.uk.
Mobile payment systems, where consumers use a chip embedded in their smartphones to pay for goods and services, have the potential to revolutionise the way we shop and are becoming increasingly common in the UK. However according to the survey of 2,000 UK adults conducted by OnePoll, over 60 per cent of consumers would avoid paying via their mobile and a further 17 per cent would be interested, but would be worried about the systems working.
The most common reason for avoiding mobile payments were fears over safety, with over a third of consumers (36 per cent) worrying about the security of the technology. Around one in five (17 per cent) would worry about losing their mobile and being stranded without phone or money.
Unsurprisingly, younger consumers would be more comfortable using their phones as payment tools than older consumers, with 48 per cent of 18-25 year olds willing to adopt the technology, versus just 20 per cent of those aged over 55 years. Interestingly, only a third of women (33 per cent) would embrace mobile payments, versus around half of men surveyed (48 per cent).
The wariness around these technologies may be explained by the lack of information about how the systems that are out there. Well over half of respondents (55 per cent) were unable to name a single service that lets them transact through their mobile, showing there is still a lot of work to do before the technology goes mainstream. One in five (20 per cent) had heard of Google Wallet and around one in ten had heard of MasterCard PassPay (12 per cent) and Visa payWave (10 per cent).
Duncan Jennings, co-founder of VoucherCodes.co.uk commented: “Mobile payment technology is already widely used in other parts of the world and we can expect the UK to join the party sooner rather than later. The flexibility of the technology will offer a huge range of benefits for consumers, from easy to manage electronic receipts, to location based offers and discounts that get sent to a shoppers phone when they enter the store. The possibilities for mobile payments are endless and could revolutionise the shopping experience.
“However, as our research shows, the UK has a long way to go before mobile payment technology is accepted by consumers. While the number of outlets where smartphone payment is possible increases every day, providers need to start engaging with the public, allay their concerns around security and educate them on the benefits of this exciting new technology.”
Notes to editors:
OnePoll carried out a survey of 2000 British adults between 1st and 3rd March 2012.
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