The U.K. payments market is at a crossroads—one that I personally think is unique and not seen in any other country at the moment. In the market today, the “old” or traditional card-based segment has seen an unprecedented resurgence thanks to the growing availability of contactless payment technology via more enabled debit and credit cards as well as more enabled terminals.
However, the U.K. payments market is also forward looking and seen as a global leader or at least among the most attractive markets to host mobile payment services. As of the writing of this blog, the U.K. market is home to three mobile payment services, two of which are mobile P2P or person-to-person payment systems (Paym and Pingit) and one that is a mobile payment service for the point of sale, or POS (Apple Pay). By the end of 2015, three more mobile payment services for the POS are expected to go live (Android Pay, Samsung Pay, and Zapp—although they are not NFC based).
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