Restaurant Mobile Apps
Evolving from the traditional method of barter, the first metal coins were used from as early as 700 BC. Payment systems have come a long way since then and the current trend is that of mobile payments. To accommodate our increasingly fast-paced lives and avoid the hassle of traditional cash payments, mobile payments have emerged as increasingly popular force in the payment industry.
Mobile payments today range from In-App payments to Mobile POS systems to online and mobile payment services and transfers. Mobile payments are set to take over the payment industry, with an estimate of 447.9 million mobile payment users worldwide by 2016. Particularly with the launch of Apple Pay, eMarketer predicts a $10 billion increase in mobile payments by 2017 in the US.
What does this mean for the UK?
With Apple Pay launching in July, amongst an already mobile payment-savvy population, mobile payment is likely to increase significantly. According to Visa Europe, 60 percent of the UK population is expected to use mobile payments at least once a week by 2020.