Cashless Society Getting Nearer in Britain, Says Visa Europe
Visa Europe today announced debut of its “Contactless Barometer” to chart Britain’s shift into a cashless, wave-and-pay society, the company announced in a press release that detailed the current state of public opinion in England regarding contactless payments.
Top-level findings of the Visa Europe research include:
- 85% of contactless users said that they would recommend contactless to their friends and family;
- 90% think it makes life simpler;
- 28% said that there aren’t enough retail outlets offering contactless payments.
The research also identified where consumers most wanted to use contactless payments: busy establishments with lines of queuing patrons such as fast food restaurants, gasoline stations, and supermarkets.
Visa Europe elaborated: “Contactless is most popular for people in a rush (58%), people with a queue behind them (30%) and those in busy places with lots of people (26%).”
UK retailers that accept contactless payments now include McDonald’s (some 1,200 eateries), Pret a Manger, Burger King and the large pharmacy chain Boots.
The Contactless Barometer also identified the main benefits consumers found in contactless payments:
- 31% like the speed in paying via contactless as opposed to cash;
- 53% like not having to hand their card over to a cashier;
- 55% appreciate not having to carry cash in their wallet / purse;
- 51% like not having to carry loose change;
- 48% like not having to plan to take cash out from an ATM.
One obstacle – identified by 44% of consumers – are widespread concerns about the security of contactless payments.
Mark Austin, head of contactless at Visa Europe, said in a statement: “We are now taking the first steps on the road to becoming a ‘less-cash’ society. The two key takeaways for me [from the Barometer research] are the need for retailers to keep pace with consumer demand and also for our industry to take steps to ensure consumers are reassured about the security measures present in all contactless cards.”