Contactless Transactions and Mobile Banking 2015
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+.
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
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Almost half, (46%), admit to not knowing how much they are charged for a regular chip and pin transactions on their debit card
