A new survey conducted by financial services software provider Compass Plus has found that though usage of contactless payments in the UK has surged, a large percentage of consumers still do not consider it secure.
The survey reported that the number of people using UK contactless payments increased from 54% to 84% since the last survey conducted in 2016.
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However, nearly half (48%) of the respondents referred contactless payments as the least secure method for conducting transactions.
The survey also found that customers trust credit cards transactions the most with 30% favouring it over other options.
UK contactless payments
Transactions made in cash are the second most preferred option with the vote of trust from 28% respondents.
Compass Plus executive vice-president Maria Nottingham said: “Despite consumers thinking that contactless payments are the least secure way to pay, our survey has demonstrated that consumers’ need for convenience is winning the battle over security, with 84% of respondents now making contactless payments.
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By GlobalData“This level of adoption is impressive, however, 12% of respondents still do not own a contactless-enabled payment card, which, 11 years after banks started rolling them out, is a surprisingly high figure.”
The survey, which sought responses from 200 consumers on UK contactless payments, also found that about 58% respondents over the age of 60 are using contactless cards, a significant jump from 31% in 2016.
But only 11% of these respondents stated that they would continue to use contactless payments as their primary payment option in ten years of time.
