MasterCard says NFC will be embraced by the younger generation in the US

According to the recently released results of a survey from MasterCard; it looks like the public, especially the younger generation, are willing to embrace NFC if it ever becomes the standard method of payment in the future. Though it wasn’t mentioned how many people were included in the survey, it is supposedly an accurate representation of the total US population ages 18 and over. From their findings, 63% of the US population aged 18-34 would be at ease with using mobile phones to make payments, while in the 35 or older age group, only 37% are comfortable with the idea.

Another interesting finding showed that consumers aged 18-34 (65%) feel more naked without their phones than wallets when compared to 34% of those in the aged 35 and above group. This trend shows that technology has become much more important in the lives of the younger generation and if there is a chance for wallets to be integrated with smartphones; they would gladly take the opportunity.

Other interesting results from the survey include:

• More than half (54 percent) of respondents think that someone’s phone is more telling of their personality than their wallet.
• More men than women (51 percent vs. 40 percent) who have a mobile phone would be at ease using it to make purchases.
• More men than women (49 percent vs. 45 percent) would be impressed by someone who paid a bill with a mobile application than with a credit card.
• Women more so than men (50 percent vs. 36 percent) feel more exposed without their mobile device than their wallets.
• Of women, 45 percent (vs. 34 percent of men) would rather have their phones than their wallets surgically attached so they’d always remember them when leaving the home.

With the “wow” factor, along with the fact that the younger generation is ready to receive NFC payment technology with arms wide open, it looks like usage of the technology could really take off in the US. Though not many phones have such capabilities at the moment, you can expect more to pop up as NFC starts being implemented around the country. What are your thoughts on NFC? Read the MasterCard blogpost about the survey results.

George Wong
Categories: Cellphones
Tags: mastercard, mobile payment, NFC, survey, us