Digital Payment Cards Gain Traction Worldwide, IDEMIA Research Reports

IDEMIA Secure Transactions' research reveals growing global preference for digital payment cards. 81% of users prefer instant digital card issuance. Enhanced security and convenience drive adoption, with significant interest in biometric and eco-friendly options. Trends indicate a shift towards innovative digital payment solutions.

According to a recent research report by IDEMIA Secure Transactions, digital transactions are witnessing significant gains. An impressive 81% of respondents expressed a preference for receiving payment cards digitally on their mobile phones immediately. This global trend shows that 83% of users already possess one or more digital payment cards.

The report further indicates that 83% of respondents use Google Pay to access their digital cards, while 72% prefer using banking apps on Android devices. Looking ahead, 87% of respondents are keen on adopting digital payment cards within the next three years, signifying an ongoing shift towards digital solutions.

Security and convenience remain paramount in payment choices, with 68% of respondents prioritizing enhanced security and an equal percentage citing convenience. Among the reasons for favoring digital cards, 55% appreciate faster checkout processes and the latest technologies. A growing adoption of digital wallets is noted, with 57% of users favoring them for online transactions.

Biometric fingerprint cards are gaining traction, too, with 73% of respondents aware of this technology. Notably, 77% value the enhanced security offered by biometric cards, and 55% appreciate their convenience. A remarkable 83% are even willing to pay extra for these advanced solutions.

Sustainability is also becoming a significant factor, with 69% of users globally preferring eco-friendly cards and 71% willing to recycle expired cards. In India, this trend is more pronounced as 75% of respondents favor eco-friendly cards, while 70% are willing to switch banks for them. Additionally, 72% of Indians are aware of metal cards, and an impressive 95% express interest in obtaining them.

Julia Schoonenberg, Executive Vice President Payment Services at IDEMIA Secure Transactions, commented on the findings, stating, "As a trendsetter, we strive to be at the forefront of evolutions in our industry, and this survey testifies to this ambition. Consumers have high expectations for their payment solutions, and it is IST's role to meet and exceed them by offering ever more innovative solutions." (ANI)

(With inputs from agencies.)