Acquired Electronics360

Aerospace

Study Says Lack of Contactless Card and Mobile Payment Education Hinders U.S. Adoption

25 October 2016

Contactless payment systems remain largely unfamiliar to U.S. consumers despite a high level of satisfaction with the technology’s speed, convenience and of ease-of-use. In contrast, adoption of contactless card payment is high in Australia and the U.K., but mobile payments remain limited, according to the results of a research study commissioned by NXP Semiconductors N.V.

Only about 20% of U.S. consumers have used contactless payment systems such as Apple Pay, Samsung Pay and Android Pay to make retail purchases, according to the study conducted by market research firm Creative Strategies Inc. In contrast, more than 85% of consumers in Australia and nearly 80% of consumers in the U.K. reported having used contactless payment systems in retail transactions.

A majority of U.S. consumers reported they would use contactless payment for over half of their purchases if they knew that form of payment was supported, with 45–59-year-olds being the age range to most often use contactless payment for every single transaction. In contrast 30–44-year-olds in Australia and the UK are the most likely to use contactless payment for every single purchase.

The survey also found that 40% of U.S. consumers would be likely or highly likely to use contactless payment more often if they were offered exclusive loyalty points/perks or exclusive discounts. In all three markets, consumers said they were looking to retailers to educate them on the security benefits of contactless payments.

Among U.S. consumers who use contactless payment technology, 77% reported that they were satisfied or very satisfied with the experience.



Powered by CR4, the Engineering Community

Discussion – 0 comments

By posting a comment you confirm that you have read and accept our Posting Rules and Terms of Use.
Engineering Newsletter Signup
Get the Engineering360
Stay up to date on:
Features the top stories, latest news, charts, insights and more on the end-to-end electronics value chain.
Advertisement
Weekly Newsletter
Get news, research, and analysis
on the Electronics industry in your
inbox every week - for FREE
Sign up for our FREE eNewsletter
Advertisement

CALENDAR OF EVENTS

Date Event Location
30 Nov-01 Dec 2017 Helsinki, Finland
23-27 Apr 2018 Oklahoma City, Oklahoma
18-22 Jun 2018 Honolulu, Hawaii
Find Free Electronics Datasheets
Advertisement