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Will consumers get to grips with frictionless?

From stores that track the items you pick up and bill you for them transparently, to fridges that automatically re-order food items as stocks become low, advances in frictionless payments are coming thick and fast.

On the face of it, such advances seem to offer unequivocal benefits to consumers. But are consumers really ready for a world in which they abandon visibility of their financial affairs, or are they too attached to their established payment methods to make the leap and adopt new services?

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Market research and data insight

Paysafe’s latest Lost in Transaction report, based on 2018 research among consumers in the UK, Canada, the US, Germany, and Austria, seeks to answer this. It looks not just at consumer willingness to adopt new frictionless models, but the attachment to existing ones; cash and online cash replacement systems, credit, contactless cards, digital and mobile wallets, and payment by invoice. It also looks at the latest fraud trends, and consumers’ attitudes to them.

Our first report, explores consumer behaviours that underpin the use hard cash, digital payments and the rise of cryptocurrency. Use this report to help inform your decision-making when it comes to solving the abandoned shopping cart dilemma.

If you missed Lost in Transaction: Volume I, you can download it here.

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