More Than a Third of Students Want Mobile Payment Option In-Store

by Joseph Walent 0

Enticing customers to a business location makes success possible, having them return on a consistent basis puts success in closer reach. One way businesses are able to facilitate positive perception of a consumers experience is accommodating their preferred way of payment for goods and services. Mobile wallets are finding acceptance with consumers that have grown up with smartphone technology as a simple feature in daily life.

One way in which retailers can tempt students in-store is to offer mobile payment options, says Vista Retail Support. Their recent research found that more than a third (36%) of students want to pay for purchases with their smartphones. In fact, their research found that mobile payments are almost as popular among students as payments with contactless cards, which 71% of students possess.

The examples cited in the article are from the U.K., which has a head start on the U.S. around NFC payment familiarity. However, Mercator Advisory Group believes the uptake and preference for contactless payment, by mobile device or card will register similar trends. It stands to reason businesses that would like to secure regular customers from Generation Y & Z should invest the time and resources in contactless payment acceptance methodologies.

Overview by Joseph Walent, Associate Director, Consumer Interaction Advisory Service at Mercator Advisory Group

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