Mobile payments acceptance increases in Spain, Pecunpay reveals

Thursday 11 February 2021 13:31 CET | News

Pecunpay has revealed that Spain is gradually increasing the use and acceptance of mobile payments, while the use of cash is decreasing.

According to the press release, the research is called ‘Study of mobile payment trends in Spain’ and is carried out in partnership with Visa. Furthermore, payment methods in Spain are undergoing a profound transformation. As a result, the use of mobile payments, though in an incipient way, was on the rise among Spaniards. For instance, 34% of the 2000 people who have taken part in this study say they make payments with their mobile. 

Additionally, mobile payments are the third preferred payment option (12%), right after cards (60%) and cash payments (22%). Besides, of those who pay with their mobile, almost 7% say they always use their device as a payment method, 11% often and 16% sometimes. Likewise, mobile payments were the most widely used payment method among men (38.6%), those aged between 18-29 (38%) and 30-44 years (37.9%), and the residents of the Regions of Cantabria (46%), Madrid (45.5%), and Catalonia (44%). 

Of the 34% of respondents who currently pay with their mobile, 67% state they have increased their use since the beginning of the pandemic. The main benefits include avoiding contact with surfaces (63%), the speed of this method (62%) and the ease of use (47%). Moreover, their average expenditure when they pay with their mobile is below EUR 50, where almost half of them (47.8%) spend EUR 25-50 and 36% spend less than EUR 25.

Overall, even though the trend in the use of mobile payments is on the rise, users still perceive there are certain barriers to achieving a more regular use. In this regard, 58% of those who make payments with mobile phones miss a greater acceptance of this payment method from establishments, while 41% call for greater security. Greater acceptance from establishments is mostly claimed by men (63.2%), while women emphasize security (48.3%).

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: Pecunpay, study, research, Spain, mobile payments, pandemic, COVID-19
Categories: Payments & Commerce
Countries: Spain
This article is part of category

Payments & Commerce

Industry Events