Report: Banks and retailers need to do more to increase use of contactless card technology
13 January, 2012
Banks and retailers must do more to increase consumer awareness and usage of contactless card technology, which remains incredibly low among the British populace, according to the latest research from YouGov’s Mobile Wallet study.
With interviews from mote than 2,500 respondents online, the study reveals that just 12% of the British population believe they own a contactless card. However, the UK Cards Association reported that there were 19.6 million active cards in the month of November.
Usage rates amongst owners of contactless technology also remain low with 80% of contactless owners stating that they have never used their card for a contactless transaction, with the main reason cited as a lack of retailers offering the service.
In addition, nearly two-thirds of the population are unaware as to which banks offer cards with contactless payment functionality. Similar to that, just 8% recognize McDonalds as a wave-and-pay provider – the most recognized merchant from the findings.
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