APPLE PAY WILL CHANGE ATTITUDES TO RETAILERS AND BANKS
In reaction to Apple’s announcement that Apple Pay will be launching in the UK this July, many major high street banks and retailers have already partnered up and are prepared for the launch.
However, according to Claire Maslen, Head of Financial Services, GSMA, retailers and banks who have not yet announced they are adopting the service are already facing complaints from their customers.
She says: “For many years Operators have been touting mobile phones as the remote control to your life and maybe now with Apple Pay coming to the UK later this year, we are one step closer.
“Apple Pay will launch with a solid portfolio of many of the UK’s banks, with more to come in the autumn. The contactless acceptance landscape in the UK is ripe for solid activity and it will be interesting to see the acquisition figures in coming months – is Apple Pay enough to switch users to iOS from their Android or BB devices?
“Perhaps more interesting to see will be the draw on the banking switch – in the UK more people get divorced than switch bank account, but will their proposed marriage to Apple Pay be enough to make consumers make the switch for banks not yet participating?!
“The Operators will continue to be active in this space, looking to ensure all consumers get access to mobile payments services – with the requested security and privacy. The UK contactless acceptance network is strong, but as the retail landscape changes and consumers become increasingly time poor, convenience and security are a must.
“People want to be able to pay in-store, online and in-app, with their mobile device and it is therefore imperative that Operators work to ensure all customers, across all operating systems and through all channels, have access to these payment services. Operators acknowledge that banks and card schemes as central partners to deliver this promise to their customers.
“Apple have a history of making different technologies, the ‘must have’ and mobile payments will be no exception. This move with so many launch partners, is hugely positive for the industry”.