contactless payments

Cash is still the most popular way to pay, for now

It’s very easy to spend the day in London and assume we are now fully entering into a ‘cashless society’.

Yesterday I used my contactless debit card to pay for everything I needed in the city: the tube, an unreasonably priced coffee, lunch, an unreasonably priced round of drinks, a tipsy purchase of some blu-rays I won’t actually watch.

14 fascinating APAC digital marketing stats from April 2015

Here it is, folks, our monthly roundup of digital marketing stats from around Asia-Pacific.

This month it includes programmatic advertising, mobile marketing in Australia, India’s growing online population, contactless payments, and a whole lot more.

Just 13% of people are happy to store credit card details on smartphones

Only 13% of consumers would be happy to store their credit card details on their smartphone, according to a new survey from The Logic Group.

The report again highlights the consumer mistrust of mobile technology, as only 30% of consumers trust major retailers to keep their personal information safe.

This is potentially a huge problem for online retailers as offering to store card details is seen as a way of improving the mobile checkout process and encouraging repeat purchases.

Furthermore, only a third of consumers said that they would be happy for their mobile to house their loyalty cards.

Security and fraud concerns are biggest barriers to mobile payment adoption

Much was written about the predicted boom in mobile payments last year, but it still seems to be some way from becoming an every day payment method.

NFC and mobile wallets were all set to become commonplace following a successful trial at the Olympics, but despite the increasing use of contactless bank cards I’m yet to see anyone pay for anything using their mobile phone.

However new research into consumer attitudes suggests that people are slowly edging towards accepting the technology.

A survey of 2,006 consumers by eDigitalResearch found that 39% of respondents had seen a contactless payment point, up from just 15% in May 2012.

Just 8% of consumers have used mobile payments: report

When mobile industry body MEF made its predictions for 2012 it suggested that there would be some spectacular trials using NFC, but that mobile payments would fail to have a significant commercial impact.

And as the months passed the prediction seemed to be coming true – Visa was planning to use the Olympics as a showcase for NFC mobile payments, Starbucks upgraded its app to allow users to pay with it at the till, and PayPal launched a number of mobile payment trials with US and UK retailers.

Yet in spite of these newsworthy trials, a new survey from eDigitalResearch seems to confirm that consumers still haven’t got on board with mobile payments.