Global trends show a surge towards digital payment methods such as Apple Pay and Google Pay. However, a new poll from Zilch reveals that UK consumers are bucking this trend. Surprisingly, the majority of them still prefer using physical payment cards.
Just before the launch of its first physical card offering, Zilch conducted this insightful research. Interestingly, they found that over 70% of UK consumers prefer physical cards. Among the older demographics, this preference is even more pronounced. Remarkably, 80% of consumers aged 55 and over prefer physical cards.
Zilch‘s Physical Card Offering and What It Means
Not long ago, Zilch launched its first physical card. This move could prove highly beneficial. Despite the rise of digital payment methods, the majority of consumers still prefer physical cards. The new card has features that appeal to consumers. These features include zero fees and instant payment capabilities. Furthermore, it also allows splitting payments into manageable chunks.
Given the circumstances, the decision to release a physical card appears smart. Indeed, the popularity of digital payment methods is increasing. However, a significant market segment still prefers traditional payment methods. Consequently, by catering to this audience, Zilch could establish a significant niche for itself.
In conclusion, digital payment methods are becoming popular. Despite this trend, many UK consumers still prefer physical cards. Zilch‘s recent survey has emphatically shown this. Hence, companies that adapt their offerings to meet this preference may thrive in the changing fintech landscape.