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Chip vs Swipe

Source: Phoenix UX, 16 October  2012

The 2nd and 3rd of October saw the greatest minds and innovators of the mobile app development world come together at the aptly named "App World"™ event at Earls Court, London.

We decided to take a family day trip to meet these great minds and see what the latest offerings were in the mobile world, from new mobile devices by Barnes & Noble to mobile payment providers.

As experts in the financial sector who are heavily involved within the mobile payment spectrum, it was particularly interesting to talk to and see the various innovations arising from the mobile payment providers.

One of the big questions arising from all the providers was how to best facilitate the mobile payment technology, i.e. whether to provide the merchant and customer interaction through "Chip and pin"™ or "Swipe and sign"™?

Having recently conducted customer experience research for client on their concept payment tool, the results also posed the question of how best to implement that device to provide the simplest yet most engaging experience which takes into consideration the consumer pain points such as trustworthiness and security.
Talking to the many providers at Apps World, arguments for either version were portrayed, for example, in the US, most places do not use "Chip and pin"™ so "Swipe and sign"™ devices are primarily used, however other experts argued against this and said that future legislations coming into action would mean that the majority would have to eventually switch over to "Chip and pin"™ and "Swipe and sign"™ would at some point become obsolete.

With all this uncertainty, we put the question over to our panel to see what the consumers and merchants of the UK market would prefer to interact with, "Chip and pin"™ or "Swipe and sign"™.

It was interesting to see from the results how many respondents were "familiar"™ with mobile payment solutions and what their preferred choice of device would be between "Chip and pin"™ and "Swipe and sign" ™.

Phoenix UX also wanted to elicit more details of respondents preferred choice by asking the question of which payment method (chip and pin/swipe and sign) would work best for the following features: "security"™, "ease of use"™, "privacy"™, "speed"™ and "connectivity"™ which built a picture of what respondents "perfect"™ device would be. 

Survey results can be found on Phoenix UX website.

See Phoenix UX website for further details