Mobile technology could "revolutionise" payment transactions

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Mobile technology could "revolutionise" payment transactions

Fri 13th Jun 2008

People could soon be using their mobile phones to pay for transactions, according to Apacs, the UK payments association.

Jemma Smith, a spokesperson for the organisation, noted that more people than ever are using cards to pay for purchases, particularly for larger sums of money.

Referring to Near Field Communication, a new, short-range wireless connectivity technology that enables secure transactions, she suggested that it is inevitable that this will be used in some form in the future.

"At some point the scales are going to tip to the point where people really do start using [mobile technology] and then it will potentially revolutionise the way that we pay for things," Ms Smith stated.

In contrast to Apacs findings, recent research from the British Retail Foundation showed that cash is now used for 60 per cent of all transactions, up from 54 per cent last year.

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