The survey has been conducted by provider of electronic payments and retail banking software Compass Plus among 200 consumers in the UK and reveals that only 8.2 % of millennials see mobile payments becoming their primary payment method over the next decade, compared with 80.6 % stating cards and 11.2 % choosing cash. Of the millennial respondents, only two thirds were aware of mobile payments.
The survey also found that nearly three quarters of under 29 year olds would rather leave their house without their purse or wallet than their mobile phone. Yet over 80 % of the millennial respondents chose either a debit, credit or contactless card as the payment method they will use the most in 10 years’ time.
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