Multiple research studies are indicating continued adoption of contactless payment options, with COVID-19 creating additional impacts in utilization. Consumers are finding that contactless payments create speedier transactions and can be simple to complete. Insider Intelligence breaks out several recent surveys:
“In Germany, a combined 46% of adults ages 16 and older said they use a contactless card in-store once a week, daily, or several times a day, according to May 2021 data from Bitkom Research. In the UK, 48% of consumers said they either began using contactless payment methods, or used them more often, because of the pandemic, according to a June 2021 Elavon survey conducted by Ipsos MORI. Meanwhile, in France, 40% of adults cited speed as a big advantage of contactless payments and 29% noted their simplicity, according to a September 2021 poll from OpinionWay and Fortuneo.”
Mercator Advisory Group research confirms that U.S. consumers are also adopting technologies, especially amongst younger generations (Gen Z and Millennials), where 50% of people utilize technologies, such as tap to pay, mobile wallets or retailer specific mobile applications. Inside Intelligence also reports that the growth in contactless payments is encouraging merchants such as Aldi to invest in autonomous checkout technology for its stores, similar to Amazon’s Just Walk Out solution.
Overview by Jordan Hirschfield, Director of Research at Mercator Advisory Group
