Tag: united kingdom

UK leads the world in mobile payments

| May 6, 2015

Report shows that mobile commerce is growing rapidly throughout the world

The United Kingdom leads the world in terms of mobile payments, according to a new study compiled by Adyen, a payment technology company. More consumers in the United Kingdom are beginning to use their mobile devices for a wide range of activities, including shopping for products that they are interested in. This is not a trend that exists in the United Kingdom alone, of course, as much of the world is becoming more involved in the mobile commerce scene.

44% of all online transactions made in the United Kingdom have been made through a mobile device of some kind

According to the report from Adyen, nearly 27% of all global online transactions during the first quarter of this year were made using a mobile device. This is a 39% increase over the mobile payments that were made during the same period of 2014. In the United Kingdom, some 44.4% of all online transactions are being made through a smartphone or tablet. The country is leading the way in terms of mobile payments and has established itself as a prominent mobile market.

Efficient payment infrastructure and competitive mobile network industry provides consumers with more options

UK Mobile Payments LeaderAdyen suggests that the United Kingdom’s position as a leader in the mobile payments industry highlights the country’s robust payment infrastructure. This infrastructure has made it possible for mobile consumers to participate in digital commerce more easily, giving them the tools they need to engage businesses and one another through financial means. The UK is also home to a highly competitive mobile network industry, with several companies vying for the support of consumers that are interested in all things mobile-centric.

UK expected to retain its position in the mobile payments space in the coming years

Competition among these companies has lead to an increase in the number of mobile commerce services that are available to consumers. A greater number of mobile commerce options has made it easier for people to become involved in this space. The United Kingdom is not expected to lose its top position in the mobile payments space in the near future.

UK mobile commerce market may hit $60 billion by 2024

| April 16, 2015

Consumers are enthralled with mobile commerce, but retailers are not

Consumers in the United Kingdom are beginning to show more interest in mobile commerce. Smartphones are now having significant influence over the way people shop for products, both online and in physical stores. Retailers have begun taking notice of this trend and have made efforts to engage mobile consumers in meaningful ways. A new report from Barclays, compiled with the aid of Conlumino, suggests that mobile spending in the retail sector will reach new heights in the coming years.

Retailers have yet to show significant interest in the mobile sector

According to the report, mobile spending in the retail sector will reach approximately $60 billion in 2024. While mobile spending may be on the rise, a relatively small number of retailers are positioned to take advantage of this trend. The report notes that only 3% of retailers said that they are using mobile-ready point-of-sale systems. Another 70% claimed that they do not have mobile friendly websites or applications in place to engage mobile consumers. As such, these retailers may be missing out on significant opportunities in the mobile commerce space.

Consumers are spending mroe through a mobile device

UK Mobile Commerce MarketThe report notes that consumers throughout the United Kingdom collectively spend $10 billion while shopping on their smartphones and tablets. Those with tablets are twice as likely to make a purchase, while smartphone users are less likely to make a purchase. Tablets tend to offer a more enjoyable shopping experience for consumers, as their larger screens provide better navigation options and these devices have better representation in the retail space.

Many retailers have no plans for the mobile space

Less than one-third of retailers in the UK have clear plans for their investments in the mobile sector. The report shows that 68% of retailers have no plans at all, with only a small number of these companies considering mobile to be a priority. These companies are developing mobile websites that are able to accommodate the needs of consumers with smartphones and tablets. They are also making efforts to embrace mobile commerce, making it possible for consumers to use their devices to pay for products.