UK Consumers Suffer From “Paynuphobia?”

By PYMNTS | June 6, 2013

According to The Telegraph, a new Payments Council report said that UK consumers are too scared to pay for goods and services using new smart technology. There are over 30 million contactless cards registered across the UK, and in March 2013 there were 5.3 million contactless transactions made.

The report stated that UK users said they were actively trying to avoid using new technology to make payments based on fears of security. Researchers dubbed the fear, “paynuphobia.”