... but Santa won't be bringing m-payment bonanza this Christmas, analyst predicts
The majority of the UK adult population will not be paying for their Christmas gifts with a mobile or watch, according to the latest research from Skopos – because not enough people have them.
The analyst firm has found in a poll that 82% of UK consumers will not be using any form of mobile payments this Christmas because 94% do not currently have an Apple or Samsung or similar smartwatch and some 40% do not have an Apple or Samsung mobile. There is also the misunderstanding among17% of consumers that do own a Apple/Android phone that their mobile is not compatible with mobile payments.
Other barriers also exist, including 18% having no interest in a smartphone/watch, because they are not needed/wanted or are expensive, while 17% prefer paying by card. Security/scam concerns influence 10% and 9% want to use cash.
“This could all be summed up as inertia to change, and a risk-reward trade-off,” says Darren Mark Noyce, head of Skopos in the UK. “Do I really need to change? Could something go wrong if I do switch payment method?”
“To counterbalance the above more negative view, we can also report that this current small percentage of ‘smart’ owners/users (and mobile payers) is likely to increase, especially amongst younger men, with a quarter of Males and a third of those Under 35 saying they intend to get a smartwatch (for instance) in the near future,” adds Noyce.
“We also know that in total, after just a short period since introduction, that just under 1 in 5 (18%) of UK adults aged 18+ DO intend on PAYING for their Christmas presents via a smartphone or smartwatch this coming Christmas, e.g. via Apple/Samsung Pay – but women and the older population are less likely our survey shows,” Noyce adds. “Add to this the current heavy promotions by banks for mobile payments, and the ever increasing number of outlets installing mobile payment facilities, and we can safely predict a healthier future for mobile payments.”