Despite advanced payment technology, there is still frustration at checkout

An Ingenico and FreedomPay joint study has revealed that despite the evolved technology with more payment options, there is still frustration for consumers at checkout.

The study Emerging Trends at the Point of Sale takes a deeper look into understanding what consumers are thinking when it comes time to pay in retail stores and what technologies merchants are implementing to enable their customers to check out quickly.

According to the study, more than half of shoppers have experienced a technical issue at checkout at some point. On the other side, the good news for retailers is that the numbers show they can quickly close the gap with contactless payment, as 75% of shoppers find the technology easy to use for purchases and loyalty programs.

Other findings:

• consumers are satisfied with contactless: 72% say it is easy to learn and 74% say it is convenient;
• 84% of businesses accept debit or credit card EMV contactless payments, but only 37% of consumers are aware of the option;
• 70% of consumers want to earn or redeem rewards without providing sensitive information;
• 87% of consumers and merchants identify security as the top attribute when choosing a payment method.

The survey was conducted in Q4 2019 by Hanover Research and includes the responses of over 350 merchants and 1,350 consumers in the US.