June 24, 2013
By Peter O’Neill
WorldPay,a provider of payment processing services, found in a recent study that 1 in 2 people surveyed (49%) said they would like biometric payments over other emerging mobile technology payment options. Biometric payments utilizing either fingerprint, palm or iris scanners were more popular than PIN based smartphone payments (30%), online wallets (25%), SMS payments (23%) followed by the least popular social media (12%).
The research examined the public’s attitudes and usage of emerging payment technologies with a particular focus on smartphones specific to the payment marketplace.
Further research found that 1 in 5 people (20%) have already made a payment of some form with their smartphone but the majority use it for research and reporting in-store. 45% used it for browsing in-store and shopping online later or ‘show-rooming’, a further 45% used it to check prices, 31% commented via social media on their shopping experience and 28% used it to download vouchers and coupons.
In relation to the research, Ron Kalifa, Deputy Chairman at WorldPay said: “Retailers can help drive mass adoption of new payment technologies by challenging existing shopping behaviours and most importantly, making a compelling case for new payment methods that consumers will understand and buy into. It’s interesting to see the public considering options such as biometric payments, a science that they may have seen in sci-fi films or on TV, which suggests familiarity and visibility of new payment technologies is crucial in moving usage from tech savvy enthusiasts to the wider public. Our research showed that 3 in 4 of us shop on auto pilot using cash, card and by paying online, so the industry needs to take greater steps to challenge these behaviours. Additionally, more needs to be done to ensure that ongoing implementation support is provided to retailers, and that staff are educated on new technologies.”
The report will be available soon on the WorldPay website (www.worldpay.com ) and is titled “Optimising your Omni-Payments: consumers, payments and the future”.
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