Gen Z, millennials heart contacless for payments, loyalty
Ingenico Group and Freedom Pay unveiled research this week that found that despite the fact that more than half of shoppers reported encountering a technical problem during a mobile checkout experience, about three-fourths still believed contactless payments were a good option for shopping or engaging in a loyalty program.
The study, conducted by Hanover Research, revealed that age is a huge factor in accepting contactless payments as 70% of Gen Z consumers and 74% of millennials reported satisfaction with using contactless.
"Even as shoppers are becoming savvier with technology today, the majority don't necessarily know what to expect when they arrive at checkout because its not the same experience everywhere they go," Mark Bunney, director of go-to-market strategy at Ingenico Group, said in a company release. "Retailers are battling a series of information gaps with their customers, as they try to offer them the latest capabilities for contactless cards and mobile wallets, while also correcting the perceptions they're developing about security and ease of use for these technologies.”
The study, conducted during the fourth quarter 2019, was based on responses from 350 merchants and 1,350 consumers.