Mobile payments is gaining momentum with the whole world adapting to new payment technologies. A study conducted by Adyen, an Amsterdam based payment company, during the end of 2014, suggests that
Europe remained one of the leading regions for mobile payments adoption with 24 percent of all mobile payments, followed by Asia with 17 percent during that period. Among the European countries, the
UK topped the charts with 41 percent, followed by countries like Netherlands and Spain with 26 percent, and France and Germany with 18 percent and 16 percent respectively. This trend shows that the UK
leads the pack in the usage of mobile payments and has the potential to grow even further during this year. The reason behind this could be the fact that many major banks like Bank of Scotland,
Barclays, HSBC, Lloyds and Santander are already providing the ‘Paym’ service of linking mobile numbers with bank accounts to allow consumers to pay for goods and services with just their
mobile phones. Since banks have taken the initiative of offering this service, people tend to use it with confidence.
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