SINGAPORE: A new study from Yahoo Singapore and Milieu Insight shows that more and more people in Singapore are using mobile apps and digital services frequently in their daily lives.
The study, conducted in February of this year, shows the widespread adoption of technological advances among Singaporeans. One of the most notable points is that more and more Singaporeans prefer to go cashless.
Over four in five (84 per cent) of individuals who participated in the study said they often use mobile apps and digital services for daily activities.
Not only that, but the majority say technology’s positives are greater than its negatives.
Over three in five (64 per cent) said that the advantages provided by using mobile apps and digital services are greater than the disadvantages—defined here as challenges and potential disruptions to daily life.
Less than one-third (32 per cent) said they were unsure about technology’s benefits, while 4 per cent disagreed.
Interestingly, while more than half of the study’s participants (54 per cent) said these apps and services improved their quality of life, 39 per cent were neutral about the sentiment, and 7 per cent disagreed.
The study, Clicks and Shifts: Yahoo Singapore Digital Study, examined the daily habits and perceptions of 1,500 users in Singapore regarding mobile apps and digital services.
Over one-third (34 per cent) of the study’s participants opted for contactless credit, debit, or prepaid cards as the number one payment method, and nearly as many (31 per cent) chose mobile e-wallets and digital payment services.
Over half (54 per cent) said that cash was their least preferred mode of payment.
This appears to directly relate to a household’s income. For example, among households that earn less than S$3,000 monthly, 36 per cent chose cash as the most favoured payment option.
Conversely, for households that earn S$12,000 or more per month, only 5 per cent of the respondents chose cash as the top option.
Moreover, different generations also showed differences in payment options. Unsurprisingly, 31 per cent of the oldest cohort, the Boomers, said they preferred cash.
However, even more Boomers (33 per cent) said that cash was the option they preferred least.
Gen X, meanwhile, preferred both contactless cards and mobile e-wallets and digital payments (30 per cent each), but for Millennials, two in five (41 per cent) said they preferred contactless credit, debit, or prepaid cards.
However, for Gen Z, mobile e-wallets and digital payment services were the top choices (38 percent). /TISG
Read related: 2 in 5 Singaporeans don’t use e-wallets for public transport: Study