Generation Z Expected To Lead Ireland In A Cashless Future
Published on Jan 10 2017 10:45 AM
Over 60% of all Irish people believe that Ireland will become cashless in the future, according to new research conducted by Core Media, Ireland.
The nationwide study, entitled The Future of Money, also found that majority of those surveyed expressed a willingness to use new payment technologies, even before they are available here in Ireland.
It is apparent that 68% of all generations are aware of new payment technologies such as mobile wallets, peer-to-peer and connected devices, but there are strong generational differences.
It is believed that while 66% of Millenials (those born between 1985 and 1994) would consider new payment methods, over three thirds of Generation Z (those born between 1962 and 1984) will be the first to embrace new payment technologies. This compares to 53% of those born before 1961.
Acccording to Shane Doyle, Group Strategy Director, Core Media, “While Millennials may be the first to adopt mobile wallets, Generation-Z is the Irish generation who will lead the real change as they embrace the wider array of technologies more deeply as they come of age and start engaging with the world of work. As a result, it is vital that brands begin to evolve now to ensure they are ready for these changes as they happen. Generation Z expect high end technology and now is the time for brands to begin developing these platforms so they can access these markets in the future.”
77% of respondents said that they would trust brands such as Facebook, Google and Apple to provide payment and financial services.
© 2017 - Checkout Magazine by Donna Ahern