Consumer Attitudes towards Mobile Payments - UK - August 2016

Consumer Attitudes towards Mobile Payments - UK - August 2016

“Despite the huge interest in mobile payments across the financial services industry, Mintel’s research suggests that actual usage is low. Companies have two main challenges to overcome to achieve growth: they have to convince consumers that paying with a smartphone is a secure transaction method; and they need to give people a compelling reason to switch from using cards. Consumers are most likely to use mobile payments if they are rewarded for doing so through schemes such as Android Pay Day.”

Rich Shepherd, Senior Financial Services Analyst

This report looks at the following areas:

Security concerns are consumers' biggest turn-off
Incentives are the key
A cardless, not cashless society

TOC available on request

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