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Contactless payment adoption 'driven by trust'
28 Jul 2011

Individuals dubious about the idea of contactless payment methods increasing convenience during shopping trips could be interested in a recent study.

Research carried out by GfK in May revealed that 62 per cent of international consumers were intrigued with the idea surrounding the technological advancement.

Reported in Marketing Week, the study - which had more than 8,000 participants - also showed that shoppers had concerns over how much they could trust retailers.

This comes after reports that brands would have to team up with financial in the sector in a bid to rid prospective customers of security fears.

GfK mobile expert Ryan Garner said: "Consumers default to financial services because they still do a very good job of managing people's money."

Earlier this month, GfK suggested that customer confidence is on the rise since the financial crisis across Europe as part of its Consumer Climate Europe survey.

However, findings revealed that individuals in the UK predicted a reversal in price trends in upcoming months.