Half of the millennial generation pays by smartphone more often than by card or cash.

Half of the millennial generation pays with a smartphone more often than with a card or cash

According to a survey conducted by the portal Fintek.pl already 74%. Polish millenials use mobile payments. Almost half of them pay with a smartphone more often than with a card or cash. The most popular form of mobile payment is BLIK. It has among representatives of generation Y as many as 88 percent. users.

Representatives of generation Y are, in the vast majority, smartphone enthusiasts. Over half of them (53.2%) in response to a question about the intensity of use of the device, gave the highest numerical value, which in practice means not parting with the phone. In contrast, only 2.9 percent of respondents chose the value of using a smartphone for occasional communication. Intermediate values gained nearly 44% in total. of respondents.

I’ll pay by phone

Generation Y representatives also appreciate smartphones as payment devices. As many as 74 percent. of those surveyed said they use their phone to complete transactions.

Such a high percentage of people using this type of payment reflects a global trend. The global mobile payments market is estimated to be worth just under $1.2 trillion already in 2019. This is projected to grow to nearly $9 trillion.

Globalization is a process that is transforming the economic picture. The Polish market reacts practically in real time to most of the phenomena trending around the world. This is particularly evident when we consider those representing younger generations – comments Krzysztof JÄ™drzejczyk, Communications Manager at Fintek.pl and KLANG! Media. – It is no different in the case of mobile payments. Polish millennials are already in the vanguard of the trend and pay by phone with similar intensity as e.g. Their Scandinavian peers – adds.

How often? With the help of which application?

People who use smartphones to pay, do so with high frequency. To the question “How often do you use mobile payments in relation to other methods e.g. SMS?. card?”Almost half of the respondents answered “Definitely smartphone payments”, the second most popular answer was “Very often (more than half of the payments made by smartphone)”. It was identified with 23% of respondents. Less than 1/3 of respondents described the frequency of using a smartphone for payments as low (several times a week) or very low (less than once a month).

The most popular form of mobile payment among survey participants is BLIK, which is used to complete transactions by nearly 88% of respondents. respondents. The following places were taken by Przelewy24 (71%).), PayU (70 percent of all respondents), and the Internet (70 percent of all respondents).) and Apple Pay (41 percent.).

Payments with wearables not so popular

However, the enthusiasm for mobile payments does not extend to methods of completing transactions using the so-called “smartphone”. wearables. Only one in four respondents said they use a smart watch or wristband at all. In contrast, just over 30 percent of people use smartphones to make payments., or 7 percent of all respondents.

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