Mobile Payments - What’s Coming in 2017?

Mobile Payments – What’s coming in 2017?

The next step in mobile payment will be coming from Amazon. They have announced that they will be launching a check out free store in 2017 which is set to change the future of shopping.

The technology will allow customers to choose their products and then leave without the pain of queuing. The bill will be charged back to their Amazon accounts. The Amazon Go Shop will be the first of it’s kind. We wonder how long it will be till they arrive in the UK; their first store is in Seattle.

This is an impressive new development in mobile payments. PayPal was an early innovator to lead the way for consumers and businesses sending and receiving money online. Since then, Android and Apple have broken into the mobile payment market with the development of their mobile wallet apps. Samsung have made plans to break into this area however Samsung Pay in the UK has been pushed back to be released later this year. The company made the promise for the app to be released in 2016.

What’s the future of Mobile Payments?

Consumers in the UK have been quick to take advantage of mobile payments due to it’s convenience. The trend is taking over in Europe as well as an estimated 16 million users have made contactless payments via their mobiles across Western Europe by the end of 2016.

Mobile payments are even crossing into foreign exchange with the launch of the Revolut App. This is set to bring new levels of ease to consumers managing their money when they are abroad. For example, auto top-up from their home country bank account to the app and the ability to block to their account from their phone.

In 2016, it started to see Apple Pay start to become the norm in retail giants Boots, Argos and Marks & Spencer’s. While Starbucks Mobile Order and Pay app has been applauded by the industry with a panel of experts award it 3^rd place in the 2016 Digital Innovations Retail Reports. 

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