eMarketer’s latest proximity mobile payment forecast indicates that 22.2% of UK smartphone users will use a phone to pay for goods and services at the point of sale (POS) in 2018.
- 9.2m people in the UK are expected to use a mobile phone for to pay at the point of sale in 2018, with the sector growing 17%.
- Proximity mobile payments will continue to enjoy double-digit growth through to 2020, but that growth will slow throughout to 2021 to 8.5%.
- PRoximity payments are most popular in China with 77.5% of smartphone users predicted to pay via a mobile at the point of sale this year.
Any standard issue bank card in the UK, both debit and credit, now comes with contactless technology as standard. Mobile proximity payment providers need to convince consumers that their tech offers benefits above and beyond this well-entrenched, and incredibly convenient, method of proximity payment.