Insight: over one third of students possess mobile payment apps
Some 36% of students want to pay for goods with their smartphones according to a new survey.
The research by Vista Retail Support, which was conducted shortly after the release of Google’s Android Pay app, also found that smartphone payment systems are almost as popular with students as contactless cards despite having been available for a much shorter period of time.
In addition, the survey discovered that only 9% of students currently possess a form of wearable technology, despite the hype around wearables as the ‘new gadget’ for tech-savvy students. 96% of students polled said they preferred to use cash, mobile or cards to pay for goods, with only 4% choosing wearable technology as their preferred method of payment.
James Pepper, technical service director at Vista, said: “Although many retailers are fully equipped to accept contactless payments we are finding that both instore colleagues and customers are unaware of this and as a result are missing out on lucrative sales. The key to unlocking this revenue stream is by educating staff on the store’s payment capabilities and making students aware that contactless payment is welcome.”
