|
|
Half of Brits Expect to Switch to Cashless Payments by 2025
Published on:
More than half of Brits (51%) expect to be able to pay by scanning their thumbprint in the year 2025 according to a survey carried out by the Payments Council's education campaign, PayYourWay.
Looking ahead to 2025, whilst the vast majority still expect to be using cash (68%), credit (73%) and debit (75%) cards - 42% of Brits think new technology will enable them do away with their physical purse or wallet if they choose. The results also point to payments using a mobile phone becoming a mainstream option - seven out of ten people surveyed expect to be able to use their mobile to make a payment in 2025.
Whatever the future holds, the Payments Council's recent survey amongst over 4,000 consumers confirms that speed and security are likely to be more of a concern than convenience. Unsurprisingly, almost everyone (93%) surveyed agreed that the security of payments is important to them at the moment, while nearly two thirds (62 per cent) admit to concerns that payments using new technology might not be secure.
Almost nine out of ten people (89%) agree that they like payment transactions to be as quick as possible, while 68% admit to getting impatient if they think a transaction is taking too long.
Commenting for Pay Your Way, Adrian Kamellard, Chief Executive of the Payments Council said: "Although it might seem farfetched to suggest that we'll be using an item of jewellery to pay by 2025, what we can be sure of is that customers can look forward to plenty more innovation in the way we pay over the next few years. Our job at the Payments Council is to ensure that any new services are secure and are shaped by the needs of all customers who may wish to use them."
Tags: [UK]
|
| |
|
| |
|
| |
|
| |