91% of young people between the ages of 18 and 29 choose mobile phones as their favorite payment method in shops, according to the third edition of the ‘Study of Mobile Payment Trends in Spain’, prepared by the Spanish fintech Pecunpay in collaboration with Visa .

In the population as a whole, only 18% of those surveyed preferentially opted for mobile payments to make purchases, which represents an increase of one point compared to last year. Cards (55.7%) are in first position, while cash is in second place (24.8%).

Regarding use, mobile payments are already used by 42% of the Spaniards surveyed, which represents an increase of five points compared to 2021 and eight when compared to 2020. On the other hand, Spaniards mostly use mobile payments when make food purchases, indicated by more than half of those surveyed (53.4%), or when they go to hotel, leisure and restaurant establishments (24.8%), as well as fashion and accessories shops (12% ).

The CEO of Pecunpay, Antonio GarcĂ­a Cruz, has indicated that one of the “main reasons” for the increase in the use of mobile payments is their “rapid acceptance” in most businesses.

“The Spaniards continue to use digital payments and especially mobile payments, highlighting the convenience and security they offer,” said the general director of Visa in Spain, Eduardo Prieto.

On the other hand, the report indicates that 9 out of 10 Spaniards demand greater acceptance of mobile payments in public transport (91%) and the Public Administration (90%). In addition, it is also observed that there is room for adoption of this type of payment in sectors such as tourism (89%), e-commerce (88%) and small businesses (87%).