Security News > 2022 > June > Contactless is reigning: Consumers can’t even remember their PIN

The company surveyed of 4,000 consumers across three continents, including 1,000 UK respondents, showed that 61% of consumers feel confident enough with contactless payments to leave their wallet at home and just take their phone - a figure that rises to over three quarters for UK Gen Z respondents.

The research shows that contactless payments are becoming increasingly prevalent in the UK: 96% of UK consumers surveyed have used contactless in the last year.

46% of UK consumers surveyed say they can count on their hands how many times they've used a bank branch in their lifetime.

Six in ten consumers surveyed have been with their bank for more than six years, with 38% staying loyal to their primary bank for over a decade.

80% of consumers surveyed would like their bank to offer rewards that are personalised to them based on their spend, while 60% would like tailored advice from their bank on creating budgets.

"As contactless limits continue to rise and more merchants welcoming contactless payments, banks and fintechs must work harder than ever to provide a smooth digital experience for their customers that provides them with security, giving consumers the digital convenience they crave."

News URL

https://www.helpnetsecurity.com/2022/06/01/consumer-digital-payment/