Tag: mobile payments

In the U.K., a rising number of people feel that they will be using their smartphones regularly in stores.

Though mobile payments have been slow to take off, they are rapidly becoming more popular and now a new study based on a survey from Lloyds Bank has shown that many consumers feel that they will be regularly using this tech within five years from now.

In fact, one quarter of the study participants felt that by the end of 5 years, mobile phones would replace cash.

One in four participants in the U.K. study felt that between mobile payments and contactless cards, they would no longer need to carry cash. Moreover, recent statistics from Barclaycard have revealed that contactless spending in the United Kingdom is three times greater than it had been a year ago. In the Lloyds survey, conducted by Ipsos Mori, with the participation of more than 2,000 people, 43 percent of consumers agreed that technology is the way that payments are going in the future.

The survey also showed that 1 in 3 people feel that mobile payments will be used daily in five years’ time.

Over the summer, Apple Pay made its way into the U.K., drawing a considerable spotlight to the concept of mobile wallets. That said, while there are quite a few people who believe that mobile devices will become a typical payment method within the next five years, there also remains a much larger number that has stated that this technology will never become their primary choice for completing payment transactions.

According to the stats from the survey, it looks as though it is younger consumers who are more enthusiastic about the use of their mobile devices for this purpose than their counterparts who are 45 years of age or older.

When survey participants were asked about why they were not yet using mobile payments, 44 percent stated that they were not satisfied with the security or safety of the transactions. Another 18 percent said that their mobile devices were not compatible with the necessary technology, and 17 percent said that they didn’t know anything about this form of transaction.

SmarTone plans to launch a new service later this year

SmarTone Telecommunications, a mobile network operator in Hong Kong, has plans to play a larger role in the mobile commerce space. The company is expected to launch a new service called “Kiss” later this year, which will allow consumers to use their mobile devices to pay for goods at physical stores as well as online. SmarTone has been signing up retailers that will be using the service as a way to better engage mobile consumers.

Kiss could become a popular tool for retailers

Kiss has been in development for the past two years and the platform may be ready for launch in December. There may be licensing opportunities for Kiss as well, especially as more organizations become interested in mobile commerce in an attempt to cater to consumers with smartphones and tablets. Merchants using the service will be charged a monthly fee and they will be able to use the Kiss platform to establish mobile storefronts that make it easier for consumers to shop with their smartphones.

Retailers are looking for ways to engage mobile consumers

There is a great deal of competition in the mobile commerce market. Retailers have been looking for new ways to engage consumers that are becoming heavily reliant on their smartphones. These consumers are using their devices to shop online for products that they are interested in. Mobile shopping is particularly popular among those with long commutes, as it enables them to get their shopping done without having to visit physical stores.

Retailers are showing more interest in getting involved in mobile commerce

Engaging mobile consumers is becoming an important priority for retailers. In the past, retailers had little interest in the mobile space, as they had relatively low knowledge of mobile commerce. Now, however, retailers are turning to companies like SmarTone in order to connect with consumers in a more dynamic way. Mobile network operators are beginning to play a bigger role in the mobile commerce space as well, as they have begun to see promising opportunities to provide valuable services to consumers and businesses alike.