14. Overview of Approaches in the United Kingdom

Mobile Payment is a topic which has been discussed since cell phones came on the market, long before the smartphone era began. Mobile Payment continues to be an interesting and important subject as smartphone technologies have developed further and customer experience with multi‐function smartphones has increased. However, it is still early days for mobile payment by smartphone, specifically in so called proximity mobile payment methods for consumers at point of sale locations (in stores). This paper studies the use of in‐store mobile payment methods in the United Kingdom and provides an overview of the approach adopted by the most popular mobile payment methods. Additionally, this paper will highlight the benefits for customers and retailers, the challenges facing retailers and suppliers of mobile payment systems and provides a number of recommendations.