Tag: uk mobile commerce

Experian predicts the dominance of mobile payments

| February 13, 2015

New study highlights the potential decline of debit and credit cards

Experian, a leading information services and credit organization, has predicted that there will be a major shift in commerce in the coming years. The company has released a new study that suggests that mobile payments will be in wider use than debit and credit cards by 2020. Mobile commerce has been gaining momentum over the past few years,  powered by the aggressive adoption of smartphones and other devices in prominent markets.

Survey shows that a growing number of consumers are showing interest in mobile transactions

According to the study, mobile payments are growing particularly quickly in the United Kingdom. The study includes results from a recent survey that Experian held, showing that one in three respondents believe that they will be using mobile payments more than other forms of commerce in the coming years. Nearly half of the respondents noted that they were ready to fully embrace mobile commerce systems that made use of biometric technology. This technology uses biologic information, such as a fingerprint, to protect mobile devices and transactions.

Credit cards and cash are losing their luster among consumers

Mobile payments - ExperianThe survey also showed that 40% of respondents believe in the decline of credit cards, with 70% believing in the declining use of cash. Mobile payments are seen as very convenient for consumers that have begun to base much of their lives on their mobile devices. New payment systems allow consumers to make purchases using nothing more than their smartphones, and retailers are embracing mobile commerce in order to better engage these consumers.

Security remains a major issue for the mobile commerce space

While mobile payments are expected to become more prominent in the coming years, there are still many challenges facing the mobile commerce space. One of these challenges has to do with security. Several companies that support mobile transactions have recently been targeted by malicious groups that want to exploit the financial information of consumers. Without adequate security measures, the growth of mobile commerce may lose steam.

Google launches new mobile payments service in the UK

| February 4, 2015

New services that allows people to send money over email comes to the United Kingdom

Google has launched a new payment service in the United Kingdom. Those using Gmail will be able to send money to their friends and family via email using this service. The service was launched in the United States last year and has enjoyed modest success, utilizing the Google Wallet infrastructure. Google Wallet is the company’s mobile payments service, which has managed to gain some momentum among consumers that are interested in mobile commerce.

Mobile payments continue to gain popularity in the UK market

Mobile payments have begun to gain momentum in the United Kingdom. Many consumers have expressed interest in shopping for and purchasing products from their mobile devices, seeing it as a more convenient way to shop. Most mobile payments are conducted online, though a growing number of retailers in the UK are beginning to accept mobile transactions in physical stores. New mobile payment services are becoming available at a relatively rapid pace, making mobile commerce one of the fastest growing sectors in the UK.

Those with Google Wallet accounts can now send money via email

mobile payments - GoogleGoogle users will also need a Wallet account in order to transfer money over email. Those receiving funds in this way will not have to have to Gmail account, but they will need to create a Google Wallet account before they can access these funds. Google Wallet must be linked with a bank account in order to work and functions in a way that is similar to traditional payment cards. The service is available only to Gmail users that are 18 years old or older.

New service could help Google compete with Apple in the future

The new service is currently only available for the desktop version of Gmail. Google Wallet, however, is available for mobile devices and can be used to send and receive money. Google’s new service may provide it a stronger foothold in the UK mobile commerce space, especially as Apple prepares to launch its own mobile payments platform in the country in the near future.