Why Mobile payments will surge in UK as Isis, PayPal, Google Wallet lead the way


Why Mobile payments will surge in UK as Isis, PayPal, Google Wallet lead the way




With smartphones playing an important part in our daily lives in the UK, Mobile payments is about to surge in UK as Isis, PayPal, Google Wallet lead the way. Shopping from your mobile device is something new for most of us in the UK, but what about using your smartphone to pay for your purchases? EBay’s PayPal is benchmark for mobile payments activity.


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Isis and Google Wallet are the other big names in mobile payments. Both of these store credit and debit card information on a smartphone, but only Google Wallet allows users to actually shop online. Isis is used in brick-and-mortar retail establishments, where 95% of all shopping still takes place. “Short-term, not having a mobile app is not bad for Isis, but longer term they must put something together. It is a joint venture formed by Verizon Wireless, AT&T and T-Mobile to capitalize on an important trend in the retail world: the leading makers of point-of-sale systems (cash registers) are upgrading to “contactless” terminals which will use near field communication (NFC) to read credit and debit card numbers. And those numbers can be read just as easily from a smartphone as from the card itself. Isis is betting that consumers would rather tap their phone to a payment terminal than dig out a credit card, especially if the phone automatically retrieves coupons and loyalty cards for the merchant at the time of purchase.
If you are in the UK and own a smartphone then get ready!


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