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Masses to reject mobile payments this Christmas, says analyst

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As many as 82% of the UK adult population are not intending to pay for their Christmas gift haul via a mobile or watch, according to the latest research from Skopos.

The key explanation is simple, says the analyst firm: 94% do not currently have an Apple or Samsung or similar smartwatch and some 40% do not have an Apple or Samsung mobile.

If that wasn’t enough, there is a misunderstanding among users/customers as well, with 17% of Apple/Android phone owners saying their mobile is not compatible with mobile payments.

Other barriers also exist and for those not intending to use mobile payments this Christmas these other off-putters and explanations include having no interest in a smartphone/watch (not needed/wanted/expensive) (18%), 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. Do I really need to change? Could something go wrong if I do switch payment method” says Darren Mark Noyce, head of Skopos in the UK.

“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.”

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