As Transport for London (TfL) today confirms London buses will no longer accept cash, research reveals that only 25% of Londoners have so far made a contactless payment with a credit or debit card or mobile phone.
However the research, from Gocompare.com, shows that London is still well ahead of the rest of the country when it comes to making contactless payments. Nationwide, 15% of Brits have made a contactless payment - an increase of 9% on last year, when Gocompare.com asked the same question.
“As more shops, restaurants and transport systems promote contactless payments, it will be seen by more people as ‘normal’ behaviour. Transport networks are a great way to promote contactless payments and help create the impression that the concept is becoming universally accepted. However, we still need to empower consumers by getting contactless cards into their hands and promote innovative solutions such as Paym, which enables mobile payments, so that they can physically start to use the technology.”
The research, commissioned by Gocompare.com, which looked at over 1,500 UK adults’ use of new payment methods revealed:
- 80% regularly manage their money online;
- 39% of those surveyed had downloaded a mobile phone banking app;
- 42% have used a smartphone to check their bank balance;
- 28% had made payments using their mobile phone banking app;
- 26% of respondents said that they regularly see shops and restaurants advertising contactless payments.
However, the survey also revealed that many people remain wary of the new payment technologies. A quarter of respondents said that they find the idea of paying for things by mobile phone scary, while 23% were frightened by the concept of contactless payments. The risk of fraud was a key concern with 46% of respondents saying this was a worry in relation to contactless payments.
Notes to editors:
Between 28 March and 11 April 2014, Consumer Intelligence conducted an online survey among 1,509 randomly selected UK adults. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.
*On the 4th-6th March 2013, Vision Critical conducted an online survey among 2,019 randomly selected British adults who are Springboard UK panelists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.