MINNEAPOLIS, Minn.—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.
That includes chip insert, magnetic stripe, mobile payments and cash.
The growing trend is being driven by safety concerns linked to the COVID-19 pandemic, reported Mobile Payments Today.
The report 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.
The study also shows a generational divide as Gen Z, Millennials and Gen X consumers lead towards contactless, while Baby Boomers don't consider it that important , Mobile Payments Today added.
"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, said senior vice president for instant payment card issuance at Entrust Datacard. "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.