Biometric payment methods favourite among security-conscious shoppers
Paying for goods and services through fingerprint, palm and iris scanners is the most popular future technology choice for security-conscious shoppers, according to new research from WorldPay.1 in 2 people surveyed (49%) stated they would like to have biometric payments, such as fingerprint, palm or iris scanners, far outweighing the popularity of emerging mobile technology options. 30% would like to use PIN based smartphone payments, 25% online wallets, and 23% are keen to use SMS payments. Paying through social media was the least popular choice, with only 12% expressing they would like to use it.
The research, culminating in a report into the payment marketplace, examined the public’s attitudes and usage of emerging payment technologies, with a particular focus on smartphones.
1 in 5 people (20%) have already made a payment of some type through their smartphone, but a higher percentage are using them for research and reporting in-store. 45% are using it for ‘show-rooming’ (choosing to browse in-store, and shop online later), 45% to check prices, 31% to comment on their shopping experience via social media and 28% to download vouchers and coupons.
Commenting on the findings, Ron Kalifa, Deputy Chairman at WorldPay said: “Retailers can help drive mass adoption of new payment technologies by challenging existing shopping behaviours and most importantly, making a compelling case for new payment methods that consumers will understand and buy into. It’s interesting to see the public considering options such as biometric payments, a science that they may have seen in sci-fi films or on TV, which suggests familiarity and visibility of new payment technologies is crucial in moving usage from tech savvy enthusiasts to the wider public.
Our research showed that 3 in 4 of us shop on auto pilot using cash, card and by paying online, so the industry needs to take greater steps to challenge these behaviours. Additionally, more needs to be done to ensure that ongoing implementation support is provided to retailers, and that staff are educated on new technologies.”