Consumers are ready for the future of mobile payments. However, standing in the way of adoption of contactless, tap-to-pay technology are two enormous industry sectors. Retailers and banks will be expected to act quicker over the next 12 months in order to bring this safer and more secure type of payment to their customers.
The mobile payment revolution is here and brands cannot afford to ignore it. The growth in mobile transactions has been significant and as a result were worth more than £20bn to British retailers last year.
According to eMarketer, retail mCommerce sales will reach £40bn and represent 43.7% of total retail eCommerce by 2019. Mobile payments currently make up a third of all UK transactions and it has become critical for brands to put a robust mobile strategy in place.
Mobile technology has disrupted, and continues to disrupt, a huge number of industry sectors and the financial sector is no exception. Mobile has completely changed the financial market’s landscape and it continues to drive innovation.
It’s not just mobile banking that has emerged though. Innovations have been extended further than that, with emerging technologies, mobile devices and mobile applications having transformed and revolutionised the financial sector as we know it today.
Following the release of Android Pay in the US 12 months ago, Google’s contactless smartphone payment system has finally launched in the UK. With support for MatserCard and Visa from at least eight banks, the service will allow users to buy goods and services anywhere with a contactless payment terminal.
Amazon could soon allow its customers to purchase products without using a password- instead, a quick selfie will suffice. The e-commerce giant has recently filed a patent to use photos or videos of a user’s face as a way to approve their online purchases.
The hotly anticipated Android Pay will finally be released in the UK at the end of next month. The search giants are expected to rival Apple Pay in the emerging mobile payments industry having already released the Android Pay system in the US last September.
Great Scott! We’re celebrating Back To The Future Day here at B60. We’ve finally reached October 21st 2015, the day Marty McFly and Doc Brown time-travelled to in 1989’s Back To The Future II. Whilst the trilogy is known and loved by fans worldwide, we’re going to be focusing our attentions on the second chapter of the iconic franchise.
It’s finally here. Apple Pay, the new contactless iPhone payment system has officially hit UK stores. Having been available to customers in the US since last October, the UK is set to welcome the credit card alternative, but has it been worth the wait? Here's everything you need to know...
Apple have announced they will be launching a new music service called Apple Music, which is set to rival Spotify. The new app combines music streaming, downloads and internet radio and has been deemed as the new platform for artists to share unreleased tracks and other material.
One in every seven pounds spent by consumers in the UK will be through the use of mobile phone payments within a decade, new research has claimed. £9.7bn is currently spent through mobile devices in the UK but this figure is set to top £53.6bn a year according to Barclays. So what does this mean for UK retailers and businesses? Mobile friendly apps and sites are more crucial than ever before otherwise you could risk facing a 53 billion pound drop. E-commerce is here to stay.