Retail chain Midcounties Co-op says its customers are supporting its implementation of Pay By Touch facilities.
The company adopted a finger biometric payments scheme earlier this year, and says shoppers support the system. It surveyed 1,000 shoppers in Oxford and found that 88% were pleased that the Co-op was the first European retailer to try out the technology.
The system allows customers to pay for goods and services with a scan of their finger rather than by debit or credit card. Payments are taken directly from the customer’s registered bank account.
Over half of those surveyed said they had either already registered for the service or intended to do so shortly.
Some 75% of shoppers said they would like to see the service available at other local retailers, such as Marks & Spencer.
When compared to chip and Pin, 85% of shoppers felt Pay By Touch was more convenient and 76% felt it was more secure.
Ben Reid, Midcounties Co-op chief executive designate, said, “We continually strive to enhance the shopping experience for our customers and we are delighted that so many of our customers and members support our initiative in trialling Pay By Touch in Oxford.”
In addition to assessing consumer reaction, the Midcounties Co-op has been monitoring the impact of Pay By Touch on transaction times. Its study shows that the average Pay By Touch payment is almost 20% faster than one using a credit or debit card.