Nearly two-thirds of UK consumers would now prefer to make card payments from a mobile wallet

Mobile wallet on a smartwatch being used to make a contactless payment
KEY DRIVER: 86% of respondents say that using mobile payment methods makes them feel safe

Nearly two in three consumers in the UK (62%) would now prefer to use their payment card through a mobile wallet compared with 31% last year, according to a survey commissioned by Samsung Pay.

The survey also found that, although 56% of participants still use physical payment cards, 90% believe that during the Covid-19 pandemic making contactless payments with a smartphone or smartwatch is more convenient and 86% say that using mobile payment methods makes them feel safe.

Although the findings identify the Covid-19 pandemic as one of the key drivers of the shift towards mobile payments and reveal that, during lockdown in 2020, almost half of UK consumers (46%) were willing to make digital payments, they also show that one in five (20%) also believe that making mobile payments from smartphones and other smart devices is better for the environment.

Nearly half of participants (42%) also agreed that it is inconvenient to carry multiple physical cards and more than half (53%) said they would be happy to no longer receive physical payment cards from their bank.

“This shift is indicative of the way customers are migrating towards mobile payments as confidence and convenience grows in more digital forms of transaction,” says Samsung’s Teg Dosanjh.

“The reality is retail looks and feels different these days, and customers are savvy about ways to keep themselves safe in store whilst speeding up transactions at the till.

“Mobile payments are not only more convenient and more hygienic, but they can offer added benefits in terms of cashback and rewards.”

Next: Visit the NFCW Expo to find new suppliers and solutions