Why are people getting payment implants?

Why are people getting payment implants?

More and more people in Poland are opting for a payment implant. Why? One of the main reasons is the security the implant provides. As evidenced by the latest nationwide survey conducted by the research lab BIOSTAT,  over 72 percent of Poles worry about having their wallets and payment cards stolen.

Identity theft affects one third of every Pole

Researchers asked Poles if they had ever lost their wallet or payment card (whether or not it was found later). It turns out that more than one in three respondents had lost their wallet or payment card. This question was answered in the affirmative by 38.3% of the surveyed. Interestingly, residents of big cities (43.7%) are more likely to lose their cards or wallets than residents of rural areas (26.4%).

BIOSTAT also asked directly the respondents if they’re worried about their wallets and payment cards being stolen. As many as 72.1% of respondents answered „Yes”. However, this issue stops being a worry the owners of payment implants. One of the reason being the fact, that you can't "hack" an implant or take a picture of it, just like a payment card, to then illegally use CVV or CVC numbers for online transactions.

Forgot your wallet?

Respondents were asked if during the last 6 months they wanted to buy something but did not have cash or a payment card on them. Nearly half of them answered in the affirmative (43.5%).

– It lets us see a huge potential for the growth of the implant market. It solves the respondents’ issue of forgetting their wallet or cash, therefore fixing issues for the consumer (not being able to purchase goods), the store (not being able to sell goods) and the banking sector (not being able to process transactions). Increasing the number of payment implants will ultimately have a positive impact on the economy as a whole. Although initially it will be a small percentage, I believe that in the near future, 2-3% of all non-cash transactions in Poland will be done using payment implants. It is a huge number - convinces Wojciech Paprota, the owner and founder of the Polish-British start-up Walletmor, the first company in the world offering secure payment implants.

Free implants? Sure!

At the end of the survey, residents of Poland were asked if they would use an implant for comfortable payment everywhere and for various other activities (e.g. opening doors, using a city card, storing their medical data) if it was completely free? As many as 47.3% answered yes to this question.

- This result shows that as a society we are not at all skeptical to the idea of implants. If implants are safe - and Walletmor implants are indeed safe – a huge interest from consumers, trade and banks, and a bright future awaits them – elaborates Wojciech Paprota.

Research source:

BIOSTAT Ltd. on behalf of Walletmor Ltd., Omnibus, June 2021, nationwide sample n=1000 respondents.