The three largest names in the sector have made themselves known as PayPal, Square, and Intuit.
The mobile payments market in Europe is finally starting to experience some meaningful growth in Europe and the United Kingdom, and the biggest names in that industry are starting to find themselves in a fierce competition.
For instance, Intuit Pay has now finally been launched in the U.K. for card transactions over these devices.
This is a market in which Intuit had not previously had a standing, but where it has now given itself a considerable advantage, as many of the largest competitors in Europe have not yet taken their first steps within the U.K. That said, PayPal has already announced that its own mobile payments will be making their way into Great Britain before the end of the year.
The difference is that while Intuit is now in the U.K. mobile payment market, its competitors are still only planning.
Both PayPal and Square have not yet actually opened up shop in the United Kingdom, regardless of the fact that PayPal plans to do so and has unveiled those intentions and plans already. Intuit made its own announcement about heading toward mobile payments in the United Kingdom, back in November 2012. It was the first of the three major European players to announce those intentions. However, now it is also the first to actually do so.
The global business division vice president of products at Intuit, Terry Hicks, said that the intention for the mobile payments company is to be first to market in the U.K., and that this will only be the first step of a massive rollout throughout Europe and then around the world. He explained that “We think of Intuit Pay as part of an operating system, one that includes QuickBooks but other products, too.”
Hicks went on to say that “Intuit Pay embraces the fact that it provides a one-stop shop. Once you sign up, you get all the invoice, payment, offline, mobile invoicing included.”
Even though Intuit is the first one into England, it is far too early to declare a victor over the mobile payments market in that country, or in Europe. However, the industry is keen to watch how that company battles with PayPal and Square as each takes its first steps.
