One in two UK consumers would consider a payments chip implant • NFCW

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By Tom Phillips ^[2] • 8 November 2021 • Updated 8 November 2021 • nfcw.com ^[3]

Just over one in two (51%) UK consumers would consider making payments using a chip implanted in their hand provided it met certain criteria including medical safety and privacy protection, a new survey reveals.

Of these, 8% said they would be comfortable using a payments chip implant “if its privacy measures were water-tight”, 23% if it was “proven to be medically safe” and 20% “simply said they would be comfortable using this payment method”.

“The vast majority (83%) think a microchip implant would make them ‘feel like they are in a sci-fi movie’ and nearly half (48%) feel the chip would be useful if they were caught without cash or card,” the researchers say.

“However, invasiveness and security issues remain major concerns.”

The survey forms part of research published in The European Payments Landscape in 2030 ^[4] report and also covers other existing or potential payment technologies, including cashierless shopping and AI-powered smart wallets or smart bank accounts.

It found that 30% of survey participants have used cashierless stores such as Amazon Go, 37% have not yet done so “but would like to”

One in two UK consumers would consider a payments chip implant • NFCW

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