Increase in consumer trust and awareness key for widespread uptake of NFC mobile payments - report

Wednesday 23 May 2012 11:55 CET | News

Increased consumer awareness and building trust around contactless mobile payments will be key for the widespread adoption of NFC technology in 2012, a recent study has revealed.

According to the study, almost 9 out of 10 (89 percent) of previous users of contactless mobile payments are likely to use the technology again in the near future, highlighting the potential that NFC could offer retailers, brands and providers.

The survey has also found that, of those having NFC technology on their smartphone devices, 47 percent have used it to make purchases. Additionally, early adopters, predominately young males, are using the technology to purchase smaller to medium sized items.

However, the study has also revealed the lack of general consumer awareness surrounding contactless mobile payments, with 33 percent of polled consumers reporting not having heard of the technology before. Trust in the technology is also low, with over one third (35 percent) of polled saying that they wouldn’t use contactless mobile payments because of concerns over security and fraud.

Finally, the study has found that, over the next year, 27 percent of surveyed smartphone owners are likely to use contactless mobile payments more. However, the study warns that it is important for mobile firms, technology providers and retailers to work to increase consumer awareness and convert this segment of consumers into contactless mobile payment users.

The study titled “Mobile Payment Index” was issued by UK-based digital market research provider eDigitalResearch.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: eDigitalResearch, report, NFC mobile payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce

Industry Events