Study unveils why customers feel frustration at checkout

The study predicts that merchants will become 100% cashless in the next five years

contactless payments

Study unveils why customers feel frustration at checkout. Source: shutterstock.com

Ingenico and consumer-centric commerce platform FreedomPay presented the results of a survey on the merchant and consumer attitudes towards payment technologies.

The research revealed that despite the variety of payment options, consumers still feel frustration at checkout. Due to technical issues at checkout, customers see a disconnection between merchants’ efforts and the shopper’s actual experience.

Even as shoppers are becoming savvier with technology today, the majority don’t necessarily know what to expect when they arrive at checkout because it’s not the same experience everywhere they go. Retailers are battling a series of information gaps with their consumers, as they try to offer them the latest capabilities for contactless cards and mobile wallets while also correcting the perceptions they’re developing about security and ease-of-use for these technologies
Mark Bunney, director of go-to-market strategy, Ingenico Group, North America

The research unveils that 75% of millennials and 70% of Gen Z are satisfied with contactless payments, whereas 65% of Gen-Z consider it a “must-have” of merchants.

Consumers surveyed reported that the most important aspect of loyalty programs is earning rewards on everything they buy. Nevertheless, about 70% of customers want to dispose of rewards without providing sensitive information.

87% of consumers and merchants consider security as the main benefit when it comes to choosing a payment method.

The study highlights that youngsters prefer credit or debit cards because they like that it allows them to track their purchases.

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