UK consumers have little appetite for mobile payment and banking services, a survey conducted for outsourcing firm Firstsource Solutions finds.
The research found less than a quarter of users (22%) plan to use their mobile phone in place of their credit card when swiping payments, and that just over a third (36%) have downloaded a mobile banking application.
“Despite the potential benefits of ‘swipe and pay’ using the smartphone, there still seems to be considerable skepticism amongst consumers about the value of mobile payment services, which is creating a barrier to widespread adoption,” Iain Regan, Firstsource’s global dead of Sales & Marketing, says.
The survey of 2,087 adults also reveals 80% of consumers won’t use a mobile payment service due to security concerns, but also that 20% don’t trust their smartphone battery to last if they do make a mobile payment.
“If the mobile wallet is to be a success then the mobile industry must do more to improve consumer confidence in payment security,” Regan adds.