Its clear from our research that a significant number of online shoppers would prefer to be able to use a traditional cash payment, and this is particularly evident in the younger consumer groups who possibly dont have access to credit or debit cards, explained Miranda McLean. And this is particularly crucial as our research also reveals the growing preference for online shopping with over half (51%) of 18-24 year-olds preferring the internet to bricks and mortar.
The new Ukash research reinforces the fact that consumers still value cash and would prefer to combine this with modern online payment methods, an area that Ukash addresses. 87% of respondents said they carry cash on them everyday.
Ukash offers consumers a great way to buy online using cash, without having to provide credit or bank card information continued Miranda McLean. Shoppers also dont have to go through the hassle of security questions and providing their personal information, making it a more convenient way to shop.
At a time when every penny counts, our survey shows that we are far from becoming a cash-free society with cash still king for many online shoppers and Ukash gives them more choice, enhancing their online spending power. We believe its important that online retailers recognise this trend, especially amongst younger consumers.
Developed to enable cash consumers to shop online and protect their personal identity and financial information when making online transactions, shopping with Ukash reduces the threat of credit and debit card fraud for consumers. The unique 19 digit Ukash codes can be used to pay directly on any of the thousands of websites that accept Ukash transactions worldwide, or loaded onto prepaid cards and e-wallets.
*Ukash Online Payments Survey- April 2013- 1057 respondents