Visa (Stock Quote: V)and Fitbit (Stock Quote: FIT) today announced the results from the Visa & Fitbit Exercise & Payments Survey.
According to the Visa & Fitbit Exercise & Payments Survey, 67 per cent of respondents carry some form of payment when they exercise. More than half (56 per cent) of respondents carry debit and credit cards while 47 per cent choose their smartphones or mobile wallets.
Half of the respondents (51 per cent) who do carry payment options while exercising keep them in their pockets while others carry a small pouch as they look for safer ways to keep their money.
A majority of respondents (71 per cent) indicated convenience as a key benefit for using wearables for payments. The new device enhances payment experiences for fitness enthusiasts by eliminating the inconvenience of carrying other payment methods during a workout.
On the flip-side, close to one in five respondents do not carry any modes of payments with them when exercising. The top three reasons include finding it cumbersome and uncomfortable, having no place to keep the various modes of payment and fear of losing their valuables. Close to 50 per cent of respondents have also wanted to make payments after exercise but did not bring any cash or cards with them.
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Also published on Medium.