Samsung Pay reports that 40% of brits are concerned about contactless limit increase

Monday 18 October 2021 14:35 CET | News

Samsung Pay has made public a commissioned study performed by Ketchum Research and Analytics according to which the recent increase in the contactless payments limit in UK might be problematic.

The research was carried out by Ketchum Research and Analytics, on behalf of Samsung. A total of 2,000 people aged 18+ were surveyed in the UK. Fieldwork ran from 12 to 26 August 2021.

According to the study, 36% of Brits are not aware the contactless spending limit is increasing, an average of 75% of Brits agree the future is more mobile payment friendly. 40% of Brits have expressed concern about the increased possibility of card fraud now that the new GBP 100 contactless limit came into effect on 15 October. With almost 60% still leaning towards physical cards to make payments, it’s perhaps not surprising that these concerns are being felt, say Samsung Pay officials in a press release. 

Officials speaking about the mobile wallet support measures such as tokenization in order to protect mobile payments, which creates a unique randomised set of numbers for each new transaction, so the customers’ real card number is always secure and never shared from their phone. 

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Keywords: Samsung Pay, study, survey, contactless payments, mobile payments
Categories: Payments & Commerce
Countries: United Kingdom
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