PayPal estimates that 2016 will be the year UK
shoppers are able to use their mobile phones to pay for their
shopping on the high street with digital money rather than cash,
cheques or cards.
The findings are based on a commissioned
survey conducted by Forrrester Consulting, consisting of interviews
with 10 senior executives from major UK retailers and other
businesses.
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It comes after Cards International
reported ABI’s prediction that
2014 will see Google Wallet filling virtual pockets.
PayPal indicates that 45m Britons use a mobile
phone at present, with 49% of surveyed mobile buyers using their
mobile phones to purchase products at least once every three
months.
The company estimates that a range of devices
will be used to make payments directly to the retailer – regardless
of whether consumers are present in the store or shopping
online.
According to the findings, PayPal currently
has over 14m active accounts in the UK, with just over a million of
those customers using their mobile to make a payment.
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By GlobalDataCarl Scheible, PayPal UK managing director
said:
“The lines between the online world and high
street will soon disappear altogether. Children born today will
become the UK’s first ‘cashless generation’. It will be completely
natural for them to pay by mobile.”
