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Tuesday, August 28, 2012

Recognition of contactless payments almost doubles in the UK

84% now recognise the contactless payment symbol

Credit card business Barclaycard has published new research showing that most British people now recognise the symbol for contactless payments. 84% can identify the symbol for paying via contactless card or NFC mobile phone, which is almost double the figure from a year ago.

The research also shows that consumers are changing the way they pay, with 61% now saying they preferred using cards rather than cash to buy lower-value items up to £20.

Richard Armstrong, Retailer Relationship Director at Barclaycard, said “The number of people using contactless has rocketed over the last year and, across Barclays, we’re now seeing our customers make more than a million such payments per month. We’re now working with a much wider range of retailers across transport, supermarkets, entertainment and indeed anywhere you currently use cash. A host of retailers have announced the move to contactless, including Starbucks, Waitrose and the M6 toll road. We’ve also given our customers greater choice in how they make contactless payments. We now offer not just contactless debit and credit cards but also mobile phones, Barclaycard PayTag which can be attached to your mobile and even, at selected events, a Barclaycard PayBand to be worn around your wrist”.

Security remains a concern for consumers. 75% of people didn’t realise they were protected against fraud when making contactless payments in the same way as all other card payments. When this was explained, less than 10% had concerns. In contrast, a quarter of those surveyed revealed they had previously left their wallet or purse in a public place.

Barclaycard is part of Barclays Retail and Business Banking, operating in the UK, the USA, Europe and Africa.

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Author: The Fonecast
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