Payment Week: IDEX Biometrics: Mobile Payments Only Slightly More Popular Than Checks
1 November 2018
A recent report from IDEX Biometrics seems to contradict some studies out of the UK that we’d been hearing about for some time now. The study in question found that, in the UK, mobile payments systems are actually only somewhat more popular than paper checks. Just because mobile payments are down on the food chain, though, doesn’t mean that cash is king.
The IDEX Biometrics study found that payment cards—both contactless or otherwise—were the undisputed king of payments in the UK, with 75 percent of respondents coming out in favor. Cash, meanwhile, was a distant second at 21 percent. An even more distant third was mobile payments at three percent, followed by paper checks at one percent. This is just for in-store payments, so the figures change when you leave the store.