STOP PRESS
IBS Journal May 2016
43
Contactless rising but many Brits steer clear
3 1% of Brits avoid contactless when shopping
because they don’t trust the technology, according to new research. Business intelligence research consultancy, Future Thinking, and Toluna, carried out an online survey of 2,315 people.
As of February, there were a total of 84.2 million contactless cards in issue in the UK, according to the UK Cards Association. Although transactions have been increasing since the limit was increased from £20 to £30 last September, 14% of those surveyed didn’t know if they could use their cards. Age plays a key role in usage. 22% of under 35’s sidestep contactless as they don’t trust it compared to 43% of over 55’s.
Noreen Kinsey, Senior Research Director at Future Thinking, comments: “It is clear from recent figures
that there has been a huge increase in the number of purchases using contactless technology. This reflects consumer desires for quicker payment methods and increased convenience. As with all new technologies there is still some reluctance towards this technology, particularly amongst older age groups, who may be further isolated as we move towards mobile pay and other tech-enabled purchase solutions.”
Scott Thompson
IN BRIEF
Spain’s BBVA now has 15.5 million digital clients, of which almost 9.5 million are mobile-based, with growth rates
close to 60% compared to 2015. CEO Carlos Torres Vila announced this alongside net earnings in the three months to March falling 54% to €709 million, “amid a very complex environment.”
He also stressed, “excellent results from emerging markets, which are very important for BBVA, the improvement in risk indicators and the strong capital position.” Torres Vila added that “the Group’s results will continue to grow gradually throughout the year…the first quarter was affected by exchange rates fluctuations and the seasonal effect of the banking business, which is normal in the industry.”
BBVA, meanwhile, is pressing ahead with its digital
transformation project, as it looks, “to become a better bank for our customers.”
Scott Thompson
www.ibsintelligence.com
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