(PRWEB UK) 28 December 2012
According to the ‘Global Mobile Payment Methods 2012’ report by market research company yStats, there has been huge growth in mobile payments across the globe in the past year. In the six months leading up to Q1 2012, over 60 per cent of all Chinese consumers made at least one mobile payment. The report also suggests that the American mobile payments market will increase by a three digit percentage figure over the next few years.
The report states that mobile payments have not taken off in Britain in 2012, with less than 20 per cent of all consumers reported wanting to use their mobile phone to make payments in the future. This figure has been attributed to worries over the security of mobile payments. With the exception of the UK, the rest of Europe seems to be taking to mobile payments, with Germany adding payments to the consumers’ mobile phone bill. French consumers main motivation for mobile payments in 2012 was to making savings on their purchases, while the Italian market, similar to the US, is expected to grow by a three digit percentage in the coming years.
A spokesperson from SmartDebit, who have nearly 20 years’ experience in the payment processing industry, commented on the global trend, “Mobile payments is the next step in the evolution of consumer payments, with this report showing a rapidly growing trend worldwide. Reasoning behind the lack of traction of mobile payments in the UK could be down to a number of reasons, security being one of them. The lack of confidence in mobile payments could also be down to awareness. Many people in the UK are unaware that mobile payment technology is actually very safe, with mobile apps cryptographically securing data. The same occurred with online banking, and after time and familiarity, consumers will become familiar with purchasing goods through their mobile”.
SmartDebit is the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services: Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solution and SmartDebit-Contingency.