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MasterCard: 63% of Gen Y want NFC

The latest survey by MasterCard has revealed that 63% of card holders aged between 18 and 34 would be comfortable with using their mobile phones for purchases via near field communication (NFC) technology.

Although the majority of consumers in this age group would like to have NFC technology, the survey's findings also show that more than a third of people aged 18 - 34 are not ready or would not feel comfortable with NFC payments via mobile phones.

In the 35 years and older age group 37% of older consumers (aged 35 and older) supported NFC payments.

The sex of a consumer how they perceive NFC:

51% of men said they would like to use NFC technology on their phones, compared with 40% of women.

For 50% of the men, being without a phone made them feel “exposed”, compared with 36% of women.

 

NFC can help spur profits

The findings support what Mehmet Sezgin, CEO of Garanti Payments Systems in Turkey, told RBI:

“By combining prepaid, NFC and contactless technology, a bank will have a profitable proposition and a complete solution for the consumer, otherwise [its proposition] will be patchy.”

The interview with Sezgin will be published in an upcoming issue of RBI and it part of RBI’s ongoing series of interviews with Turkish banks.

Other interviews include Akbank’s CEO Hakan Binbasgil and the senior executive vice president, strategy Tunc Akyurt; Denizbank’s senior vice president, card payment systems marketing Enis Tuna, and senior vice president, self service channels management Murat Erdag,

The latest interview to be published is one with Ziraat Bank’s assistant general manager Soner Canko who spoke to RBI about investment strategies at Turkey’s largest state-owned bank, which include the implementation of biotmetric ATMs and unstaffed micro-branches, called Goruntulu Islem Merkezi.

 

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