Paysafe Report Reveals Need for Consumer Education to Propel AI Payments Into the Mainstream
2023年6月27日 - 5:00PM
ビジネスワイヤ(英語)
Research highlights extent of untapped
potential for AI and mixed reality payments
With artificial intelligence (AI) being one of the most talked
about technologies of 2023, consumers are gradually growing their
understanding of its role in the payments process. Research* among
over 14,000 consumers commissioned by global payments platform
Paysafe (NYSE: PSFE) highlights the extent of the potential for the
technology in payments if the current lack of consumer awareness
and comfort are addressed.
At present, just 14% of consumers globally say they are using
AI-driven payments technology, with the remaining 86% expressing
reservations about the use of AI. While 10% expressed willingness
to use AI-driven payments in the next two years, if they became
more established, 17% are not comfortable using AI-driven payments
technology at all. Meanwhile, a quarter (24%) cite lack of
knowledge around what safeguards are in place to reassure them that
data isn’t being misused, and over a third (35%) said they don’t
know enough about AI-driven payments technology to feel comfortable
using it yet.
Some consumers were able to identify their use of real-life
examples like AI-powered checkouts (58%), smart wallets (52%), or
payment chatbots (50%). When asked how aware they were about the
use of AI by merchants, approximately one third of consumers
indicated that they know a fair amount or a lot about applications
like fraud detection (35%), customer risk scoring (33%), consumer
trends (36%) and personalising the payment experience (36%).
Rob Gatto, Chief Revenue Officer at Paysafe, commented: “With
the very immediate and significant impact of AI that we’ve seen in
recent months, it’s understandable that consumers would have
concerns about using such technology at the checkout. To encourage
wider adoption, it is crucial to increase consumer awareness and
understanding of AI-driven payment technologies and how they work.
Payment service providers and merchants will need to educate users
about the benefits of AI-driven payments, such as smoother
experiences, convenience and security, in order to break down those
barriers. Addressing privacy and security concerns head-on is
essential, as is deepening consumer recognition of AI being used
for risk-scoring, fraud detection, and personalisation.”
Elsewhere, the research found that when it comes to mixed
reality – AR (Augmented Reality) and VR (Virtual Reality) payments
– while uptake is still low so far at just 3%, the initial
challenge around comfort has been largely overcome. Concern about
the technology's security was minimal, with only 12% of consumers
saying they wouldn't use AR or VR to purchase goods because they
don't seem safe.
A considerable amount of consumers seem open to embracing the
technology: 27% said they see themselves using VR and 28% said they
see themselves using AR if these become more widely available and
they learn more about them. Similarly, just over a quarter of
respondents (26%) felt the same about paying for something in the
Metaverse.
Gatto added: “When it comes to AR and VR payments, consumer
awareness and comfort seems far less of a barrier to adoption. With
the tech giants placing such significant focus on this area and new
headset launches emerging in the market, we could see a rapid rise
in mixed reality commerce once the technology is more widely
available.”
For additional takeaways from the research, as well as further
analysis, download the full report: Lost In
Transaction Consumer Payment Trends 2023: How consumers’ shifting
priorities are impacting the experience economy.
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NOTES TO EDITORS
About the research
The research*, which was conducted on behalf of Paysafe by Sapio
Research in April 2023 and covers the UK, US, Canada, Germany,
Austria, Bulgaria, Italy, Peru, Chile, Brazil, Mexico, Colombia,
Argentina and Ecuador explored changing consumer behaviours towards
payments.
About Paysafe Limited
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading
payments platform with an extensive track record of serving
merchants and consumers in the global entertainment sectors. Its
core purpose is to enable businesses and consumers to connect and
transact seamlessly through industry-leading capabilities in
payment processing, digital wallet, and online cash solutions. With
25 years of online payment experience, an annualized transactional
volume of over $130 billion in 2022, and approximately 3,300
employees located in 12+ countries, Paysafe connects businesses and
consumers across more than 250 payment types in over 40 currencies
around the world. Delivered through an integrated platform, Paysafe
solutions are geared toward mobile-initiated transactions,
real-time analytics and the convergence between brick-and-mortar
and online payments. Further information is available at
www.paysafe.com
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