South West Shoppers Prefer Cash to Contactless

May 10, 2018 Chopsy Baby

Fraud savvy consumers in the South West refuse to use contactless card payments instead of cash.

Research commissioned by Equifax, found that paying with a debit or credit card and a pin number is the preferred method of payment for 54 per cent of people in the West Country.

Worrying about the potential for fraud concerned 34 per cent of shoppers in the region who said they would be sticking to cash to make payments.

But the safety of paying for money is not convenient for everyone. A 31 per cent said they would rather use the speedy contactless card tap and 16 per cent thought trying to coax cash out of an ATM was too much hard work.

Despite the ease of thieves being able to make quick, fast fraudulent payments with lost or stolen cards, 66 per cent of us were happy with the current £30 payment limit. Just 13 per cent wanted the limit raised to a higher amount.

Credit information expert at Equifax, Lisa Hardstaff said: “Many people are benefitting from the convenience and speed of contactless. £3,913.3 million was spent in the UK in April using a contactless card, an increase of 147.6 per cent on the previous year.”

“But it could be the fear of fraud if they lose their card, or concerns about keeping track of payments that could be holding some consumers back.

Just over 1000 people took part in the survey.

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