While the number of people using contactless has risen from 54% to 84% since Compass Plus’ last consumer survey in 2016, almost half (48%) of respondents still consider it the least secure way to pay. This figure has doubled since 2016, with contactless payments now considered the least secure way to pay across every age group. Credit cards were thought to be the most secure payment method for the majority of those surveyed (particularly by those aged over 30) and cash came a close second, with 30% and 28% respectively.

The survey also revealed that 58% of over 60s are now using contactless cards as a way to pay for their goods, compared to just 31% in 2016. Only 11% of over 60s answered that they expect to be using contactless as their primary payment method in 10 years’ time, which could be a result of nearly one-third of the demographic not currently owning a contactless card.

Compass Plus has been undertaking research into consumer and industry expectations of the payments market since 2011, and the 2018 survey took in the views of 200 consumers across the UK, who were asked to describe their current payment habits and how they think these may change in the future.