A lack of understanding coupled with security fears are understood to be preventive many mobile phone owners in the United Kingdom from using their mobile handsets as wireless mobile credit cards. This information has been given by a recently carried out survey.

Almost 50 per cent of the people of the United Kingdom according to the survey reports, would like to use their smartphones and mobile handsets to pay for routine items, yet most of them tend to avoid using the new contact-free payment technologies due to a lack of understanding and security fears.

The survey found that while 46 per cent of the people of the United Kingdom would gladly swap cards and cash for smatphones as a payment mode, the majority seemed to be under informed on both security issues shrouding the mobile wallet technology and the technology itself.

Contact-free payment firm, Ingenico's managing director, Craig Doyle said that the research revealed their status of not being sufficiently confident in depending on contact-free technology for making the switch from the conventional cards and cash.

Ingenico contactless payment firm had commissioned this particular research on how the British public including the mobile phone owners were responding to the new contact-free payent technologies.