Entrust Datacard survey shows consumers prefer contactless
A new survey by Entrust Datacard shows the vast majority of U.S. payment cardholders, or 75%, prefer using contactless cards over other forms of payment, including chip insert, magnetic stripe, mobile payments and cash, amid safety concerns linked to the COVID-19 pandemic.
The report, called the State of Contactless Cards Survey, showed that 83% of respondents said contactless cards are here for the long haul and 61% consider it a priority to have a contactless feature on their credit or debit cards.
There appears to be a generational divide as Gen Z, Millennials and Gen X consumers lead towards contactless, while Baby Boomers don't consider it that important.
"As many Americans deal with financial setbacks and heightened concerns about health and safety in the face of COVID-19, the value we are placing on contactless payments has increased markedly," Tony Ball, senior vice president for instant payment card issuance at Entrust Datacard, said in a press release. "Consumers want the ability to shop at their convenience, but also want to minimize personal contact with point of sale devices.
The survey questioned 1,000 consumers who were familiar with contactless credit and debit cards.