Tag: united kingdom

A recent study suggests the launch of a new UK payments service has pushed the nation into the top m-payments market spot, worldwide.

After comparing international mobile payments markets, a UK Payments Council research paper claims that the United Kingdom is the m-payments market leader and that the country’s success is related to the P2P Paym service, which was launched this past April by the Payment’s Council.

The report compared the person-to-person (P2P) mobile payment services of several countries.

Aside from the UK, the countries that were studied and compared included the US, Japan, Sweden, India and Kenya. The report compared a variety of aspects, some of which included infrastructure, ownership, the mobile banking experiences of customers, and speed.

Adrian Kamellard, the Payment Council’s chief executive said about the report that “Looking round the world makes it clear that Paym is a world leading service, even when compared with trailblazers such as M-Pesa in Africa. The UK payments industry’s collaborative model of change, which builds upon our existing world class real-time payments infrastructure has delivered real benefits for customers.” Kamellard added that unlike other parts of the world, Paym is a free service for customers “at the point of use.”

He went on to say that mobile technology has altered human behavior around the world and that this has transformed the way that people carry out many of their important daily tasks. He added that it is interesting to observe how technological, cultural and local regulatory differences affect how a new mobile payments solution is applied.

Paym is the only mobile payments service in the world that is industry-wide to use P2P.

In addition to this finding, the Payment’s Council report also claimed it found that the US and Japan are behind Sweden and the UK when it comes to delivering P2P m-payment services. It also said that it is a struggle for India to make its service as universal is it is in Sweden and the UK due to the country’s geographic and demographic disparity. In addition, it noted that Kenya’s M-Pesa mobile payments service has increased the nation’s inclusion and financial capability, which previously had an infrastructure lacking in payments and banking.

Wearable devices are still in short supply, but the demand for them is huge

Wearable technology may be in a state of infancy, but the market is maturing at a rapid pace. The demand for wearable devices is on the rise and many people are expressing their eagerness to purchasing upcoming products from companies like Google. This demand has been highlighted by the recent launch of Amazon’s Wearable Technology Store in the United Kingdom. The store has shown that many people have an interest in wearable devices, even though a relatively small number of these devices are currently available to them.

People are eager to get their hands on new wearable devices

Even in a state of infancy, wearable devices are somewhat advanced. Google Glass, for instance, uses augmented reality technology to enhance the physical world with digital displays. The device can be controlled with a person’s voice, simple head gestures, or with a control panel. Google has yet to announce an official release date for Glass, but the company did recently announced that it would make Glass available in the United Kingdom.

Amazon may become a very influential figure in the new technology market

Amazon’s Wearable Technology Store currently has more than 100 wearable devices listed from various companies. The store exists one of the very few platforms that cater to the interests of those that have a fascination in wearable technology. Amazon may prove to be a very powerful figure in this emerging market, especially as more wearable devices see release in the coming years and the demand for these devices begins to explode.

Wearable devices are yet another stepping stone toward more integrated technology

Technology has come to play a major role in society as a whole. The advent of smartphones began people’s rapidly  growing reliance on mobile technology and this reliance has evolved into an aggressive interest in new technology that can become more integrated in daily life. Wearable devices seem to satisfy this interest by allowing people to become more integrated with technology. This technology also helps make the features of smartphones and tablets offer a little more convenient.