A survey has shown that the quality of digital wallets is one of the main reasons that people are reluctant to use them.
The Digital Payments Report 2016 stated that alongside customer experience, other factors that increased mobile payment resistance included confusion over available options, and low acceptance of digital wallets in shops.
To improve customer adoption, digital wallet providers must improve the overall mobile payment experience. The report, which surveyed over 250 people working in the payment industry, suggests that alongside making the buying process easier, digital wallets should incorporate loyalty cards and allow customers to find new businesses that they may be interested in.
The report reveals that a combination of more available WiFi spots and increasing rates of contactless-enabled terminals will encourage more people to adopt digital wallets.
Recently, there have been several large-scale data breaches, with card details being captured in some cases. Payments made using digital wallets, which can tokenise and encrypt card details, could appeal to fraud-conscious consumers.
The report states that with both consumers and business owners seeking safer payment options, the mobile handset manufacturers need to be more innovative in the creation of digital wallets, including features such as a second line of authentication.
All of Handepay’s terminals accept contactless payments, including Apple Pay. To find out more about our terminals, get a quote here.