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IRUK Top500 The Customer Report: 2018

IRUK Top500 The Customer Report: 2018

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Increase in consumer trust and awareness key for widespread uptake of NFC mobile payments

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Increasing consumer awareness and building trust around contactless mobile payments will be key if providers and brands expect to see the widespread adoption of NFC technology in 2012 as predicted, finds first Mobile Payment Index study from eDigitalResearch.

The study also found that almost 9 out of 10 (89%) previous users of contactless mobile payments are likely to use the technology again in the near future, demonstrating the potential that NFC could offer retailers, brands and providers.

The survey also found that, of those that have the NFC technology enabled of their smartphone device, an encouraging 47% have already used it to make a purchase. Early adopters, predominately young males, are using the technology to purchase smaller to medium sized items.

However, the results also highlight the distinct lack of general consumer awareness surrounding contactless mobile payments. Of the 2,000 consumers surveyed, 33% said that they had not heard of the technology before. Trust in the technology is also incredibly low, with over one third (35%) saying that they wouldn’t use contactless mobile payments because of concerns over security and fraud.

Derek Eccleston, Head of Research at eDigitalResearch, comments, “It’s not surprising that we’re seeing this sort of wariness from consumers. Unlike mCommerce, where consumers were driving the change and shopping online via their mobiles well before the first shopping apps, this time around it’s up to retailers and technology providers to push for this next revolution of the market. People need to work together to increase consumer awareness, and in turn, settle fears and tackle key issues, such as security”.

The study also found that, over the next year, 27% of smartphone owners surveyed are likely to use contactless mobile payments more. It’s important, however, that mobile firms, technology providers and retailers work to increase consumer awareness and convert this segment of consumers into contactless mobile payment users.
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