Faster Payment Solutions – Visa Contactless Report

Consumers are more open to using a mobile device as a payment method, according to a report published today Visa’s 2016 Digital Payments Study as it offers an Easy and Faster Payment solution.

Technology is driving consumers to make purchases using many different types of point of sale (POS) experiences. In this modern age of retail technology, consumers want to use multiple that are intuitive and have a seamless user experience across all applications. In addition, payment credentials must work in a fast, safe and convenient way across any channel the customer uses. As a result, convenience and checkout speed drive the convergence of payment channels.

The report outlined that 52% of British shoppers opt for contactless payment methods and 53% of diners are also more inclined towards new payment methods over cash. Contactless use has increased across all age demographics, the greatest increase in the 55-64 age bracket, which has witnessed 64% growth since 2015.

Faster Payment Solutions

According to Philip Konopik of Visa Ireland, “Consumers are now armed with a variety of new ways to pay. This includes wearables and a range of digital wallet options on their mobile devices. These options provide consumers shopping in-store with a number of fast, easy and secure ways to buy.”

The report also outlines that 69%, of consumers, are “web room” shoppers.  Doing their research and look at the best price online, before purchasing the item in that retailer’s shop. Consumers are interested in using digital wallets to make purchases face-to-face (40%), through apps (58%), as well as online (64%)

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