Mobile phone payments set for lift-off
Brits could soon be getting out their mobile phones rather than their wallets to pay for purchases on the high street.
Contactless mobile phone payments are set to become the norm as an increasing number of retailers trial the technology.
Mobile phone payments are used for low value payments under £10, which currently account for three out of four cash payments in the UK.
Jemma Smith, head of PR at UK Payments, said: “We think as soon as a large number of customers and retailers take it on, you will see that more people will become aware and make use of the technology.
“We are a nation of card lovers and you would think it would not be a difficult step for customers already using cards, hence this could really take off.”
Eight million Brits already possess a contactless payment card, she added.
Smith’s comments followed the launch of a new report by analyst Alex Kwiatkowski, which claimed that mobile phone payments will offer businesses a “golden opportunity that they cannot afford to miss.”