Contactless and online payments are leading young people into debt, according to research from The Claude Littner Business School at the University of West London . One in One adults 2014 in Birmingham are finding it difficult to pay off debts because of easy transaction methods and 64% blame digital payments for their overspending. Meanwhile, 19% said they'd run up unauthorised overdrafts and 14% have had their payment card stolen. The research comes as UK's digital payments transactions is predicted to grow to £400 billion a year by 2020. Data represents another significant issue for them; 19% claim to be worried about data security and 66% said they'd had data stolen.
Contactless and online payments are leading young people into debt, according to research from The Claude Littner Business School at the University of West London . One in One adults 2014 in Birmingham are finding it difficult to pay off debts because of easy transaction methods and 64% blame digital payments for their overspending. Meanwhile, 19% said they'd run up unauthorised overdrafts and 14% have had their payment card stolen. Data represents another significant issue for them; 19% claim to be worried about data security and 66% said they'd had data stolen.