Videos | July 1, 2013

Contactless payments a step in the “evolution of money”

Contactless payments are quick and easy. They are a new way to tap and pay with a bank card or another device without entering a pin or writing out your signature.


But the ING International Survey Financial Empowerment in the Digital Age suggests there are still some doubts about the security of contactless payments.

Evolution of money
ING senior economist Ian Bright explains in a new video that he thinks of contactless payments as the latest step in a long evolution of money.
“We moved from a world of mainly cash payments to one of ATMs and debit cards. Now we have apps, online and mobile banking. And contactless payments,” says Bright.

And evolution of security
But in the survey of almost 12,000 people in 12 countries in Europe, 45% disagreed with the statement “I would feel confident that my money is secure if I used contactless payments”.
Says Bright: “As money has evolved, so have the ways we protect it. Contactless payments are becoming more common as the fast, new way to pay.”

This article is related to the ING International Survey:

Mobile Banking 2013

Mobile Banking 2013

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Are the new technologies of mobile banking, contactless payments and social media changing the way people bank? This ING International Survey explores the answers of almost 12,000 people in 12 countries, in what is...

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