Cash is a Ghost of Christmas Past
Contactless and mobile technology is driving new shopping habits in the run-up to
Christmas according to a recent Digital Payment survey conducted by Visa.
30.11.16 Malta Whether online or in-store, buying gifts or enjoying Christmas revelry, shoppers around Europe are foregoing cash, opting for the speed and convenience of new payment methods.
With MORE THAN 165 million contactless cards and 3.4 million contactless enabled terminals terminals across Europe, usage has grown from 36% in 2015 to 52% in 2016, according to Visa’s 2016 Digital Payments Study.
This trend is not solely reserved for younger, more tech-savvy consumers. Contactless uptake has increased across all age demographics, the greatest increase within the 55-64 age bracket, which has witnessed 64% growth since 2015.
Moreover, the adoption of contactless cards is having a tangible impact on other payment methods. Europe-wide, contactless card users are more open to using a mobile device as a payment method in a shop (52% contactless card user vs 32% non-contactless card user), to shop via a retailer app (49% vs 31%) and to pay for a meal (50% vs 30%).
As well as reaping the benefits services to our clients, leading high performing teams and contributing to our purpose and ambition. Despite an uncertain economy, we are still investing and these promotions are a tribute to the contributions these new partners have made to EY and our future. I’m proud of all that we’ve achieved together as an organization over the past year, of contactless payments, consumers are also recognising the benefits of other new payment methods. In 2016, 44% of the people Visa surveyed reported using mobile payment apps, up from 38% last year. Nearly half (46%) agree that having the option of paying using their mobile or wearable device has made it easier to buy the items thy need.
This added convenience is also and I am particularly proud of all our new partners.”
EY continued to reaffirm its commitment to the advancement of women, with female partner promotions representing 29% (208), including women across all geographies and service lines.
EY has more than 230,000 people in 152 countries around the world. fuelling an uptake in digital wallet usage across a variety of purchasing channels. European consumers are interested in using digital wallets to make purchases face-to-face (37%), through apps (51%), as well as online (56%). Consumers agreed that greater convenience (61%) and the ability to pay anytime, anywhere (59%), were the primary benefits.