More Than 100 Million Americans Would Use Contactless Credit Cards to Buy Inexpensive Items

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More Than 100 Million Americans Would Use Contactless Credit Cards to Buy Inexpensive Items
Survey Finds Young, High-Income Consumers Most Likely to Use New Technology

    WALTHAM, Mass., July 19 /PRNewswire/ -- More than 100 million Americans
would use contactless cards to pay for inexpensive, everyday items such as
fast food, convenience store items and transit fares, according to a
comprehensive new survey released today. A large number of consumers would
also use contactless cards to pay for parking, video games and vending
items, the survey found.
    The survey, conducted by Ipsos Insight and Peppercoin, was a
scientific, random sample telephone survey of 1,001 Americans ages 18 and
older and has a margin of error of plus or minus three percentage points.
    "This research shows that consumers are open to embracing the
convenience of contactless cards and many of them are willing to use them
to buy everyday items," said Matt Kleinschmit, vice president, Ipsos
Insight. "And this is particularly true for younger Americans, reinforcing
the long-term growth potential of contactless card technology and the
payment card industry."
    Specific survey responses include:
    * Broad willingness to use contactless cards -- More than 50 percent of
      respondents, which translates into more than 100 million Americans,
      would use contactless cards to buy gasoline, items from fast food
      restaurants or corporate cafeterias, or groceries. More than 40 percent
      would use contactless cards to pay for convenience store items and
      transit fares (subway and bus fares and tolls). Almost 40 percent would
      use contactless cards to buy coffee or pay for parking, and 30 percent
      (60 million Americans) would use contactless cards for video games or at
      a vending machine or kiosk.
    * Greater acceptance with young consumers -- More than 50 percent of
      survey respondents between the ages of 18 and 24 indicated they would
      use contactless cards to buy a range of goods, including gas, groceries,
      fast food, coffee, convenience store items, transit fares and video
      games.
    * High income consumers more likely to use contactless cards -- Consumers
      in households with incomes greater than $50,000 indicated they were more
      likely to use contactless cards than those with income less than
      $50,000.
    * Security and ease of use are top concerns -- Concerns about security and
      ease of use are the two main obstacles facing contactless card
      acceptance. Depending on the specific market, between 13 and 22 percent
      of respondents indicated security concerns would keep them from using
      contactless cards. The data indicate a need for companies leading
      contactless roll-outs to educate consumers about the cards' safety and
      how easy they are to use.
    "Contactless payments represent a significant opportunity for the
payments ecosystem. Consumers benefit from the increased convenience while
merchants gain speed at the point of sale," said Mark Friedman, president
and CEO of Peppercoin. "In addition, when combined with Peppercoin's
Virtual Prepaid and Merchant Loyalty offerings, contactless payments
encourage consumers to return more frequently and spend more when they do
-- translating into increased revenue for merchants."
    About Ipsos Insight
    Ipsos Insight is a member of the Ipsos Group, a leading global
survey-based market research company. As the company's flagship marketing
research division in the U.S., Ipsos Insight provides custom and tracking
research to domestic clients as well as U.S.-based multinationals. Ipsos
Insight specializes in research for the Consumer Products, Technology &
Communications, Financial Services, and Health industries. Visit
http://www.ipsosinsight.com.
    About Peppercoin, Inc.
    Peppercoin is a small payments technology company transforming routine
card transactions into new revenue opportunities. Peppercoin's platform
accelerates the cash-to-card transition, getting customers to come back
more often and spend more using the cards in their wallets-all while
costing merchants less. Only Peppercoin provides a loyalty-ready
PCI-compliant small payments suite for all payment models, including
prepaid, subscription, and pay-as-you-go with Intelligent Aggregation. For
more information, please visit http://www.peppercoin.com.
    CONTACT:  Julie Goldman or John McElhenny
              Schwartz Communications
              +1-781-684-0770
              peppercoin@schwartz-pr.com
SOURCE Peppercoin, Inc.
http://www.peppercoin.com
http://www.ipsosinsight.com
CONTACT:
Julie Goldman or John McElhenny, both of
Schwartz Communications, +1-781-684-0770,
peppercoin@schwartz-pr.com