Customer experience is more important than ever at checkout, study reveals

Speed, convenience and security for personal information. That’s what consumers want at checkout, according to new research. But with the rapid rate of change in personal technology, what do consumers expect today in stores? And how can merchants optimize the experience and keep their customers coming back?

Understand what’s happening in the mind of consumers at the checkout counter and get reactions from merchants in the findings from a new survey, “Emerging Trends at the Point of Sale.”

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How consumers like to pay

Chip cards have normalized,
and contactless is on the rise

Data shows that consumers currently prefer to insert their credit and debit EMV chip cards and almost everyone has their card readily available when it’s time to pay. Contactless and digital are starting to see traction and present an opportunity for merchants to take the lead in industry change by helping consumers see how these methods best meet their needs.

When paying in store, consumers prefer...

54% To insert an EMV chip credit or debit card
18% Cash
11% To swipe a credit or debit card magnetic stripe
7% To tap an EMV contactless credit or debit card
4% Digital Wallets
Consumer views on emerging payment technology

Consumers who use contactless like it

Contactless is the leading emerging payment technology in the U.S. because it’s fast and easy to use. Interestingly, data shows that consumer age plays an important role in adoption of this technology. For younger generations, their general comfort with technology is a key factor to help shift merchants towards contactless. While older consumers are more likely to report they’ve been using contactless payments longer, they also don’t use these cards as often or believe them to be as secure as the younger set. And the youngest consumers in our study, Generation Z, are evidence of what is to come for the point of purchase landscape: 65% describe contactless as a must have.

Consumers say they’re satisfied with contactless because…​

Contactless cards and wallets are easy to use

Faster, easier checkout is a plus

Getting started with contactless is simple

Why consumers walk away from a purchase

Consumers want a frictionless, secure, reliable checkout

Consumers expect merchants to protect their personal information, and they expect payment technology to work well every time. If these expectations aren’t met, consumers are willing to stop shopping with a merchant that disappoints them.

Merchant Perspective

Security is the top attribute for merchants in selecting payment hardware for their business, the survey shows. Other important attributes include ease of use for staff, versatility, ease of implementation and transaction fees.

Consumers say they would stop shopping at a store if…
Asset 5
Asset 751%

Their card was not accepted

Asset 5
Asset 769%

Their card information was stolen

Asset 5
Asset 771%

Their identity was stolen

When it comes to security, consumers said…
Security was the most important factor in choosing a payment method
They would use contactless cards if they believed they were more secure
They would stop shopping at a store if identifying information was stolen
They don’t trust the security of contactless cards
Are concerned their card information will be stolen
Consumers care about their security

Contactless payment security misperceptions are delaying adoption

Security is the leading factor for consumers when it comes to selecting a payment method in general, but the data shows this is particularly true for contactless payment. Contactless payments made with credit/debit cards or digital wallets are as secure as contact chip payments. However, consumer perceptions don’t match that reality, with 73% of consumers saying that security stands in the way of rapid contactless adoption.