Report: Three in Four Consumers Prefer Contactless Cards to Other Payment Methods
7-30-2020
A majority of consumers prefer contactless cards to other payment methods like EMV chip cards, swipe transactions, and cash, a recent survey from Entrust Datacard found.
Three in four (75 percent) of 1,000 surveyed U.S. consumers with payment cards prefer contactless-enabled cards as their primary method of payment.
An even larger percent of respondents – 83 percent – believe contactless cards are “here to stay,” and 61 percent believe it’s at least somewhat of a priority to have a contactless-enabled card. A generational gap exists in use of contactless cards, the survey revealed. Proportionally twice as many Baby Boomers reported they never use the contactless payment feature on their cards as young generations.
Respondents cited sanitation and speed as benefits of contactless cards, but the survey found “the majority of consumers are still unaware of their card replacement options” if they don’t already have a contactless-enabled card.
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About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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