Survey Finds Fewer Than One In Four UK Consumers Would Use Their Smartphone Like A Credit Card

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1st November 2013 17:35 - Telecommunications

According to a new survey carried out by YouGov on behalf of Firstsource Solutions, fewer than one in four of UK consumers would use their smartphone like a credit card to make payments even if they had the relevant application.

Among respondents, four fifths (80%) said they would not use mobile payment platforms for fears that their personal bank details will not be secure.

Mobile banking applications have been downloaded by just a third (36%) of mobile phone users, however seven tenths (70%) of those that did have an application rated it as good or excellent, and two thirds (68%) do some form of mobile banking at least once a week.

Ian Regan, global head of sales and marketing at Firstsource Solutions, said:

“Despite the potential benefits of swipe and pay using the smartphone, there still seems to be considerable scepticism amongst consumers about the value of mobile payment services, which is creating a barrier to widespread adoption.”

These findings are consistent with separate surveys, which identify consumers’ fears over security, lengthy sign-up processes and problems making payments outside of individual schemes. Mobile payment specialist, Zapp, recently found that less than one in five UK consumers used their mobile to make payments, and among those making payments, a fifth (18%) said it was difficult to pay people who don’t use the same mobile payment system.

Part of the consumer reluctance to adopt such mobile banking platforms may stem from a series of fraud attacks on NatWest customers last November. Shortly followed by the Eurograbber attack in December, in which criminals stole £30 million from 30,000 customer accounts in four European countries.

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