Mobile payments are replacing cash and cards for younger consumers

Mobile payments - Person paying with mobile phone

A growing number of young people are turning to their phones to complete transactions. Young people are increasingly turning to mobile payments to make their purchases, as they use traditional transaction methods to a decreasing degree, said the result of new Marqeta data. The card issuing platform released the results of a recent survey of 4,000 customers across 3 continents. The Marqeta survey involved the participation of 4,000 respondents living on three continents. Of those respondents, 1,000 were from the United Kingdom. What the survey found was that most (61…

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This year, UK mobile commerce will hit £2.27 trillion

UK mobile commerce - British Pounds

By the end of next year, m-commerce in the United Kingdom will have reached £2.73 trillion. By the end of 2021, UK mobile commerce will have reached the £2.27 trillion ($3.16 trillion) and will rise even further to reach £2.73 trillion by the end of next year, says a Kaleido Intelligence report for Payvision. This is occurring as consumers and businesses alike seek contact-free transactions in the pandemic. The report showed that 11 percent of all online shoppers around the globe are currently using mobile wallets at least once per…

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Barclaycard restaurant mobile payments let diners walk out without the wait

woman cell phone restaurant mobile payments

Until now, to “dine and dash” meant running off without paying, but that’s about to change. Barclaycard has announced that its customers will be able to make restaurant mobile payments by simply leaving an establishment. The solution means diners can leave once they’re finished eating. It eliminates the need to wait for a bill at the end of a meal. The service has been nicknamed “Dine & Dash” because diners can leave without waiting for a bill. To use the Dine & Dash restaurant mobile payments service, customers need a…

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NFC mobile payments will be used by 1 in 4 Brits in 2017

NFC Mobile Payments Mastercard QR Code PayPass MasterPass

New research from MasterCard has predicted that over the upcoming 12 months there will be a significant shift. MasterCard has now released the results of a new research study in which it determined that NFC mobile payments will be used by one quarter of all Brits throughout the next twelve months. This will represent a considerable increase in the trend toward the use of mobile wallets in the U.K. At the moment, MasterCard’s figures show that the current rate of use of NFC mobile payments within this market is at…

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Mobile commerce is a hit with British consumers

United Kingdom mobile commerce

UK is experiencing a major increase in mobile commerce activity Mobile commerce is surging in the United Kingdom. The Office of National Statistics has released its yearly report concerning Internet usage in the UK and has found that nearly all (96%) of British adults between the ages of 16 and 24 browse the Internet from a mobile device. This demographic is noted as being “on-the-go,” and busy schedules have made people rely more heavily on their smartphones and tablets. Smartphone penetration and growing mobile networks are exposing people to mobile…

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