International Director: Mobile Payments – no longer a sure investment
21 November 2018
By David Orme, SVP, IDEX Biometrics
Mobile payments hit the mass market in 2014 with the introduction of Apple Pay and was hailed as the next revolution in payments. Partnerships with major payment providers such as American Express, MasterCard and Visa meant that the innovation was anticipated to make a major impact on consumers straight from launch. They were even predicted to replace cash and card by Visa back in 2015 who forecasted the UK to spend over £1.2bn a week by 2020 via mobile payments. Yet, this payment method has failed to meet its anticipated high expectations and card remains the firm favourite for UK consumers.