Reasons to not use wearables in payments, by age| ��ƽ��

Main motivation for consumers worldwide on why they do not use a wearable device for payments in 2024, by demographic

Characteristic	I don’t think the value they bring warrants the expense	I am concerned about security on these devices	I am concerned about making accidental transactions with a wearable device	I don’t like how they look	Other
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Release date

August 2024

More information

Region

Worldwide, Argentina, Austria, Brazil, Bulgaria, Canada, Chile, Colombia, Ecuador, Germany, Italy, Mexico, Peru, United Kingdom, United States

Survey time period

May to June 2024

Number of respondents

9,926 respondents

Age group

18 years and older

Special properties

Consumers, only those that do not use wearable devices to make payments; The source did not survey respondents from the Asia-Pacific region, the Middle East, or Africa.

Method of interview

Online survey

Supplementary notes

The source phrased the question as follows: "You say your usage of Buy Now Pay Later (BNPL) has increased, why is that? Select all that apply"

The results have been weighted to represent the entire population.

The source does not clarify whether multiple answers were possible.

Citation formats

Over out of 10 people said they did not use wearable devices for payments due to a lack of value provided when compared to potential expenses. This is according to a survey conducted in 14 countries across North America, Europe, and Latin America. The value these devices provide compared to their price was questioned by older age groups and males, whereas younger generations were more concerned about accidentally making transactions with them.