VoucherCodes.co.uk The majority of consumers are still in the dark about NFC systems and would avoid paying for goods and services via their mobile even if they were able.
The research reveals over 60 per cent of consumers would avoid making payments through their mobile, while a further 17 per cent would be interested, but would be worried about the technology working. The most common reason for avoiding mobile payments were fears about safety, with over a third of consumers (36 per cent) worrying about the security of the technology.
Despite a recent flurry of activity from Apple and Google around their NFC offerings, when asked which company consumers would trust to handle their mobile payments, the biggest winners were established providers. Visa was the considered the safest bet for 30 per cent of consumers, with PayPal placed second (20 per cent) and MasterCard (18 per cent) third. In contrast Apple was the brand of choice for just six per cent those surveyed, Google for just four per cent.
The research also revels there is very little penetration from any mobile payment brands in terms of consumer awareness, with well over half of respondents (55 per cent) unable to name a single service. One in five (20 per cent) had heard of Google Wallet and around one in ten had heard of MasterCard PassPay (12 per cent) and Visa payWave (10 per cent).
Duncan Jennings, co-founder of VoucherCodes.co.uk commented: “Mobile payment systems are a hugely exciting prospect for the retail sector and the possibilities this technology brings in terms of marketing and customer acquisition are limitless. While the adoption of mobile payments is very much dependent on UK retailers investing in NFC enabled point of sales technology, providers of NFC enabled services need to start engaging with consumers to familiarise them with this payment model.
“With NFC and other mobile payment systems still very much on the fringe in the UK, it’s no surprise to learn that most people are confused and a little wary about adopting the technology. However while low levels of awareness are clearly a challenge for service providers, they also represents a massive opportunity for brands to win the trust of consumers and cement their position in this increasingly competitive space.”