Nov 02, 2013 Simon Williams
While electronic payments usage may be increasing worldwide, thanks to mobile devices such as smartphones and tablets, not all nations are enthusiastic about this development.
According to a recent study from outsourcing firm Firstsource Solutions, consumers in the United Kingdom are wary of mobile payments, Telecoms reported. In fact, less than one in four U.K. consumers make purchases with their smartphones, even if they have mobile apps installed in order to facilitate the process. There are a few reasons behind U.K. consumers' hesitation, including concerns over the security of personal bank details (80 percent) and worries that their devices' battery would hold up (20 percent).
"Despite the potential benefits of swipe and pay using the smartphone, there still seems to be considerable skepticism amongst consumers about the value of mobile payment services, which is creating a barrier to widespread adoption," said Ian Regan, global head of sales and marketing at Firstsource Solutions, as quoted by Telecoms.
Still, 36 percent have downloaded mobile banking app, with 70 percent of those respondents rating the technology as excellent and 68 percent using it in the past week.
The payment channel is still anything but widespread, with a variety of types competing for dominance. Near-field communications (NFC), which has struggled due to Apple's resistance to adding it to its devices, is gaining some ground, WebProNews reported.