Study reveals that UK shoppers are less likely, than US shoppers, to pay using their smartphones.
Judo Payments has researched the mobile payment market, looking at the UK and the US comparatively with data indicating that 22% of UK smartphone owners have tried to pay using their mobiles, compared to 60% in the US.
Out of 7 million people, in the UK, who have attempted mobile payment, 1.7 million have had a failed transaction and 1.3 million have had several failed transactions.
UK Consumers find the mobile checkout system to be a difficult process.
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American mobile payment seems to be a better experience for the end user.
Despite their hesitance, UK consumers have shown a lot of interest in mobile payment.
The data suggested that despite teething problems, characteristic of new technology, this market cannot not take off with time and application, echoing the sentiments of Dimoco’s CEO, Gerard Tauchner, who in an interview with Payment Magnates said: “With a market penetration rate of more than 100 percent, mobile operator payment simply provides the greatest potential.”
Given that studies illustrate the large propensity for online shopping in the UK with e-commerce booming, it seems unlikely, that Judo Payment’s data will not evolve over time.