Contactless ransactions and mobile banking 2015
Summary
This study of consumer behaviour in relation to contactless transactions and mobile banking was conducted by Behaviour & Attitudes on behalf of the Competition and Consumer Protection Commission (CCPC). The research was undertaken through a face-to-face, in-home survey of 1,001 adults aged 16+.Publication details
- Publication date:22 December 2015
- Industry:Financial and insurance services - L
- NACE code:Financial services (non-insurance) - L.64
Documents
Research report contactless transactions and mobile banking consumer behaviourPDF | 518 KBResearch report contactless transactions and mobile banking consumer behaviour PDF | 518 KB - Opens in new window
Key findings
- 3 in 4 adults aged 18+ hold a payment/current account.
- Almost half of adults 18+ are aware of contactless payments (45%) and 4 in 5 are aware of mobile banking (83%). Awareness is lower among the over 65s, the working classes and those living in rural areas.
- Just over 2 in 5 (42%) hold a debit or credit card that allows for contactless payments, with 43% of those stating that they have used their card in the past week.
- For those who do not use the contactless facility, the main reason for not using the facility is due to hassle/mistrust of technology or forgetting about it. There is some concern also about keeping track of spending.
- Visiting a branch continues to be the main bank service used (66%), despite the growth in technology (internet – 58% and mobile banking – 43%). Over 65s are driving visits to branch, while U50s are much more active online.
- 2 in 5 claim that fees and charges influence the way they bank, with using debit card less often and making larger withdrawals being the main change.
- Almost half, (46%), admit to not knowing how much they are charged for a regular chip and pin transactions on their debit card.
