According to a recent research carried out by YouGov on behalf of business process management company Firstsource Solutions, more than half (55%) of 18- to 24-year-olds are willing to make NFC mobile payments, compared to less than a quarter (24%) of those aged over 55.
The survey, based on the responses of more than 2,000 adults, points out that men are substantially more likely than women to use their smartphones for contactless payments (45% versus 32%), with 84% of women saying that concerns around security is the main reason for not wanting to use their phone for such transactions.
However, 47% of those surveyed said they do not want to use their phone to make a contactless payment, with nearly 30% saying they do not believe the technology will make an improvement compared to existing methods.
Among those not wanting to use NFC mobile payments, 81% said it was due to concerns around security, 37% said they do not trust the technology to work properly and 18% think it an unreliable payment method because of a phone’s limited battery life.
Regionally, Londoners are far more likely than people in the rest of the country to adopt mobile payments, with 45% willing to use their phone to make a contactless payment compared to 27% of people in Wales.
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