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Mobile payments becoming more popular among Brits, research shows

More people in Britain are taking advantage of mobile payments, according to research from payment systems company Vocalink.

The company’s State of Pay 2017 report surveyed more than 2,000 British consumers across all age groups. They found that payment services provided by applications including Apple Pay, for example, are rising in popularity across the UK.

Increase

The report showed an increase in the number of British consumers using banking apps, with 52 per cent now using mobile banking, an increase from 38 per cent in 2015. A third of respondents said that they have made and received payments via mobile banking apps.

Half of respondents were found to be using mobile banking to purchase items, with many now choosing to use their smartphone to pay for expensive items alongside lower-cost items.

The report found that biometrics is gaining popularity amongst British consumers. A third of respondents said they have authenticated a payment using fingerprint technology and 26 per cent said they support facial recognition technology.

Reliable

The report also revealed how British consumers feel about turning to other companies for recommendations on payment services and found they would trust the advice from companies such as PayPal or Mastercard just as much as they would trust their high street bank.

Vocalink CEO Paul Stoddart commented: “What’s clear is that while the payments industry has tackled some of the hurdles for consumers, such as convenience and choice in payments, people are increasingly looking for trusted partners to provide reliable and secure payment methods.”


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