A recent survey conducted by payments platform Paysafe highlights significant consumer apprehension regarding artificial intelligence (AI) in the payments landscape. The research, which surveyed 14,000 individuals, revealed that only 14% are currently utilizing AI-driven payment options.
While 10% of participants express a willingness to embrace AI-driven payments within the next two years, a notable 17% remain uncomfortable with the technology. A primary concern stems from a lack of understanding, with 35% of respondents indicating they do not feel informed enough to use AI, and 24% seeking more information about data protection measures.
The findings underscore the latent potential of AI technology and the necessity for increased consumer education. Rob Gatto, Chief Revenue Officer at Paysafe, emphasized the importance of addressing consumer fears: “Given the recent rapid advancements in AI, it’s natural for consumers to feel hesitant about using this technology during transactions. Payment service providers and merchants must proactively share the advantages of AI-driven payments—such as enhanced convenience, security, and streamlined experiences—to alleviate these concerns.”
In contrast, consumers display a stronger inclination toward augmented reality (AR) and virtual reality (VR) technologies in payments, with 27% and 28% of respondents, respectively, expressing openness to using these innovations once they become widely accessible. Gatto noted, “With major tech companies increasingly investing in this sector and new headset launches on the horizon, we could anticipate a swift growth in mixed reality commerce as this technology becomes more commonplace.”