UK: Mobile payments still looking to grab a foothold — eMarketer — “Just over 22% of UK smartphone users will use a phone to pay for goods and services at the point of sale (POS) in 2018… China has the largest mobile proximity payments market in the world, with 77.5% of smartphone users doing so this year. Within Europe, the UK’s smartphone penetration rate will rank behind Norway (23.3%), Sweden (33.8%) and Denmark (38.9%) in 2018.”
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Seems low to me. Growth is strong.
This could be tempered by our on-going national love affair with contactless cards; we’re really starting to get into them now 🙂 Also, even if we’d all been paying by waving phones for years already, I think we’d be pretty impressed that you can do the same thing with just a tiny seemingly-inert credit card. Not until phones offer “contactless payments plus” functionality will there be a good reason for most folks to get their phones out IMHO…
Some mobiles do offer NFC contactless functionality. Most could offer QR contactless. The do offer “plus” in the form of multi-accounts; most cards are limited to the single account of the issuing institution. Mobiles also offer instant paperless receipts. Mine is always in my hand while cards are usually in my pocket.
In fact, I pay with my Apple Watch.
All that said, I really wish that the US brands and issuers would opt for contactless cards instead of the slow contact cards that they chose.