Contactless payments are popping up in more stores across the UK and beyond. Hailed as a new breed of disruptive technology, contactless payments let customers complete transactions by using a variety of devices including mobile phones, wearable bands, key fobs, credit and debit cards and more.
More brands are looking to leverage the power of this technology because it creates a customer experience that is simple, convenient and relevant to the lives of so many customers who are using smart phones and fitness trackers. However, since new technology providers are emerging almost daily, other brands are still remaining cautions about adopting such technology.
Unsure of whether to integrate the Google Wallet, or PayPass, or even the technology of some as-of-yet unnamed and upcoming near field communication start-up, some brands want to see which payment method wins the battle for mass adoption.
But the answer to that question is becoming clearer, and Apple Pay is emerging as the technology that seems to delver a more satisfying customer experience.
According to the results from the new Contactless Payment Index, eDigitalResearch, a leading provider of SaaS technology Voice of the Customer solutions, found that the majority of contactless payment users in the UK are more satisfied with Apple Pay than they are with other providers. In fact, 15% of respondents stated that the integration of Apple Pay will increase the amount of contactless payments they make.
Some other key highlights of the index also stated that:
- 51% of Apple Pay users are extremely satisfied, compared to 32% of contactless card users who said the same
- Over a third (40%) of shoppers who have an Apple device have used Apple Pay to pay for goods or services
- 20% believe using Apple Pay could encourage them to spend more
"Contactless payment services are growing - as demonstrated by our latest research results,” said Steve Brockway, eDigitalResearch CEO. “However, while UK shoppers are becoming more familiar with various forms of contactless payment the difficulties banks and technology providers now face is a lack of awareness; just under half (46%) of respondents said they do not understand how Apple Pay works."
But even though Apple Pay appears to be leading the way so far, there is no guarantee it will maintain that lead. Furthermore, other index findings also suggest that contactless payments must still gain more awareness before they can truly become mainstream.
Nearly three quarters (75%) of the 2,000 consumers surveyed said they have not seen any Apple Pay points or symbols before, which indicates that overall awareness is still low.