Contactless Technology: Focus on Younger Consumers to Grow Adoption and Acceptance

Table of Contents

• Overview
• Primary Questions
• Findings & Analysis
• Address Consumer Security Concerns- Both Perception and Reality- To Realize Widespread Adoption of Contacless Technology
• Focus on Younger Consumers: They Are More Likely to Use Contactless Payments, and More Concerned with Usability Than Security
• Integration of Contacless in Cell Phones and a Focus on Younger Consumers Will Drive Merchant Acceptance and Wider Consumer Adoption
• Contactless, Mobile, and Youth: Recipe for Increased Spending?
• Trends to Watch
  • Contactless Capabilities on Mobile Devices
  • Over-the-Air (OTA) Provisioning
  • Carrier and Financial Institution Interaction
  • Merchant Adoption for More than Small Value Transactions
• Appendix

Table of Figures

• Figure 1: Fear is the Primary Barrier to Adoption of Contactless Payments
• Figure 2: Contactless Technology: Interests and Concerns by Age Group
• Figure 3: Device Preferences for Contactless Payments
• Figure 4: Typical Payment Forms by Age
• Figure 5: Likelihood of Usage of Contactless Products by Age Group
• Figure 6: Likelihood of Consumers Aged 18-24 to Adopt Contactless