Mobile payments - a hot topic at our 2015 payments briefing day


Written by Editorial Team

Published October 2015

In this article...

One session to gain a great deal of interest at our recent payments briefing day was ‘The changing face of customer present payments’, in particular, the role mobile technology has to play in the near future and beyond.

2015 has been somewhat of an inflection point for this new breed of payments. Back in July we saw the launch of Apple Pay and we expect to see the launch of Zapp before the year’s out.

There is no doubt that mobile payments is a potentially huge market. Smartphone ownership among the 16-24s age group has reached 88% and ownership among UK adults risen above the 60% mark¹.

Apple pay is leading the way

Perhaps the biggest change in this brave new world of payments was the emergence of Apple Pay, a digital wallet that links your payment cards to your phone, allowing you to use your iPhone 6 and Apple Watch at any store that accepts Apple’s contactless payment service.

Apple Pay uses existing contactless payment infrastructure, meaning you can use it on any payment terminal that accepts contactless payments. For example, businesses using Pay360’s contactless payment terminals are already able to accept Apple Pay.

Given the meteoric rise of contactless in the UK, there are certainly plenty of outlets available for consumers to make payments using their Apple device. Currently, just like other contactless payments, transactions are limited to £30, however, it’s likely that this limit will be relaxed in the future due to the additional security features the service offers.

While mobile payments are very much in their frontier stages, this year has still seen rapid growth, growth that looks set to continue when both Samsung and Google enter the UK market. Both technology giants have mobile payment solutions readily available in the US and with UK launches expected next year we can expect to see many more phones being waved in front of payment terminals in the near future.
Mobile payments are not just about waving your phone magically over a contactless device, there are also a number of apps that make payments possible from any smartphone or tablet.  Something we’ll be taking look at in our next article.   

¹Ofcom (August 2015) Retrieved from