With the likely introduction of Apple Pay into the UK in July, will this increase the popularity of mobile payments in the UK? So far the expected increase in mobile payments hasn’t materialised. PayPal Check In is a mobile app designed to let customers find businesses and let them know they are ready to make a purchase on PayPal. The process for charging the customer is a simple seven stage process but so far it hasn’t gained mainstream use.
Apple Pay is likely to benefit from the policy by the London Underground and bus network to use contactless payment methods as they phase out their pre paid Oyster cards. The company already accepts Apple Pay for US customers. When Apple Pay goes live in the UK it should establish mobile payments, if iPhone users use Apple Pay to pay for their travel. The ease of swiping your mobile rather than searching for your wallet and finding the correct card to swipe will surely appeal to London commuters.
In the UK, Near Field Communication (NFC) technology is well established. The introduction of mobile payments will not necessitate the upgrades in terminal technology required in the US. It is expected Apple Pay will be popular and widely used in the UK capital.
The real success of Apple Pay and the acceptance of mobile payments will depend on the number of other retailers accepting this payment method and how quickly smaller retailers embrace this technology. Will Google accelerate the Android Pay method to stop people switching to iPhone?
Some major UK banks and three major credit card companies will support Apple Pay from its commencement in July, other banks will follow from the Autumn. A range of retailers will support Apple Pay but there are some notable names missing. Perhaps most significantly PayPal has announced its support for Apple Pay.
Is the Apple name enough to make mobile payments mainstream?