Barclaycard research reveals over 80% of public now recognise contactless payment symbol
Barclaycard has revealed through research into the public’s awareness of contactless payment, that over 80% of Brits now recognise the contactless payment symbol, almost double the figure from a year ago.
Contactless transactions have now passed the million-a-month mark, but the on-going challenge for the adoption of contactless has been the perception that the technology wasn’t safe. 75% of people didn’t know that contactless, like all card payments, are insured against fraud. When told that this was the case, more than four in ten said they would be more inclined to use the technology with fewer than one in ten still having concerns.
The research has also highlighted a shift in consumer spending preference, with 61% of people saying they preferred using cards over cash to buy items up to £20.
The Cooperative Group has begun a trial of contactless payment technology. Mark Hale, CIO and supply chain director explains how it has worked in store: “Customer reaction has been very positive since we introduced contactless payments into our stores within the M25 and Manchester city centre in May 2012.”
Understanding that many consumers fear they will do something wrong when it comes to contactless payment, Hale continued: “We have focussed on training our store colleagues to help customers through their first purchase and have supported this with clear point of sale promoting the fact that contactless is available. We also made sure that our solution was part of the Chip & PIN device so that the customer didn't have to look for a different terminal to make a contactless payment.”