Although nearly half of British consumers (46 percent) would consider using their mobile phone as a method of payment, the research reveals that many consumers are unprepared to make the leap from traditional forms of payment. This is most clearly shown by the slow take up to date of contactless debit and credit cards. Less than one in eight (13 percent) consumers have ever owned a contactless enabled debit or credit card and only one in 20 (5 percent) have ever made a payment using a contactless debit or credit card. The research reveals that two of the primary reasons why the adoption of contactless payment technology remains so slow is that consumers feel ill-informed about both using the technology and the security surrounding the technology.More than six in 10 (61 percent) need more reassurance that contactless card and mobile payment technology is secure before they attempt to make any such payments. Nearly half (47 percent) say that they don’t know enough about contactless or mobile payment technology to make them want to use it. At a more fundamental level, more than four in 10 (42 percent) consumers still don’t know where they can use a contactless card, and more than a third (35 percent) have no idea what a contactless terminal looks like. A requirement to improve consumer knowledge about the technology is not the only barrier to adoption. The research also highlights an ongoing concern over security. Nearly half (47 percent) of Brits would be put off from making contactless debit or credit card payments due to the security risk of fraud, and the same number would be concerned about the risk of identity theft. Mobile phone payment technology faces the same issues, with more than half (56 percent) worried about fraud and around the same number (52 percent) worried about identity theft. Responsibility for helping consumers understand contactless technology rests with the payment card industry according to three quarters of British consumers (75 percent). Two thirds (66 percent) think that the banks should take responsibility for consumer understanding and just over half (55 percent) think that retailers should do more to educate shoppers. A quarter (26 percent) feel that the Government should be responsible for consumer education. Commenting on the research,Craig Doyle, Managing Director for UK and Northern Europe, Ingenico, said: “Consumers have long demanded improved convenience and speed during their shopping experience. But this research reveals that they are still not sufficiently confident in using contactless technology to make the switch from traditional cash and cards. There can be no doubt that we remain on the cusp of a major payment revolution. However, providing shoppers with clearer information about contactless technology will be critical to improving their knowledge and ultimately increasing consumer adoption. There is a huge responsibility on the shoulders of the ‘contactless industry’ to work together to ensure that demand from consumers meets supply of technology. And the best way to achieve this equilibrium is to raise levels of awareness and understanding about the benefits of this technology and continue bringing convenience to the end consumer.” Many fast food restaurants, café chains and pharmacies are already accepting contactless payment cards, while many of this summer’s music festivals will switch from cash to contactless payments. In the run up to the London 2012 Olympics, contactless payments via debit and credit cards are being introduced on London’s 8,000 buses, in order to cope with the millions of passengers expected on London’s transport systems. By the end of 2012, the underground, overground and trams are expected to also take contactless payment. www.ingenico.com