Fifty-nine percent of British consumers that answered ClearScore’s poll on their spending habits admitted that they spend more than intended when using contactless payments. Furthermore, mobile paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More methods like Apple Pay caused 72% of respondents to succumb more frequently to impulsive spending.
In the UK, the amount of contactless payments in the first half of 2016 has already surpassed the whole of 2015, reaching 1.1. billion transactions in less than a year.
Without the tangible feeling of cashMoney in physical form such as banknotes and coins. More, spending becomes an abstract activity causing consumers to lose track of their finances.
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