Wednesday 9 October 2013

The Payments Generation Gap

We wanted to know how shopping and payments preferences differ across generations in Britain, so we asked 2,126 shoppers for their opinions.

Here’s a sample of what they said. For the full research data, download our whitepaper

To help deliver an age-specific check-out experience to turn browsers into buyers, Kalixa commissioned Opinion Matters to survey 2126 UK adults who have a current account in an attempt to understand the different payment methods used by different generations, and their shopping preferences. Some key findings include:

  • The most popular place to shop and pay across all generations continues to be in-store and at the till
  • Only 0.7% of respondents consider mobile apps to be a secure way of shopping
  • Shoppers between 19 and 27 are more likely to embrace mobile payments if rewarded with loyalty points or financial incentives
  • 65.6% predict cash will be gone by 2020
  • 53.6% predict contactless payments to be the main way to pay by 2020
For more data – and some key recommendations for merchants – download our free whitepaper.