Mobile payments promise to revolutionize UK commerce. The UK is a sophisticated and enthusiastic consumer technology market, with smartphone adoption and mobile commerce activity both growing fast and surging ahead of other European territories, according to a new eMarketer report, “UK Mobile Payments 2014: A Market Stymied, Despite Potential.”
This would appear to have created the platform for consumers and retailers to embrace proximity payment via their beloved handsets. But the UK is also a curious anomaly. Piecemeal technology adoption by both consumers and retailers has created a fragmented ecosystem, in which use of these mechanisms ranks far behind that of other mobile services—at just 2.2 million mobile payment users forecast for 2014, according to Yankee Group—and behind other countries. Read the rest at eMarketer.