Mobile phone users are expected to climb to nearly 5 billion by 2020. It’s no surprise that mobile payments will continue to grow among consumers. Are you interested in merchant services and need to compare mobile and traditional payments? Just read this article and you’ll know how you can do this.
Mobile Payments in the UK
The payments industry is growing with incredible advances. It’s made payment processing easier than ever before. You can find merchant processing devices in almost every industry. However, this doesn’t mean businesses should completely forget about other options.
The OEM Pays dominates the mobile payments field in the UK. In-store mobile payments accounted for £975m in 2017. This was an increase of 328% within one year.
According to Worldpay, retailers received 126m transactions via smartphones in 2017. The spending record of £975m accounts for a year-on-year growth of 328% for mobile payments in Britain.
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