Danielle Levitas, SVP research & analysis, App Annie, said:
“The launch of Apple Pay has the potential to shake up the banking and payments industries. Compared to the rest of Europe, the UK is a leader in mobile banking. In Q1 2015 downloads of the top ten retail banking apps in the United Kingdom were almost twice as high as those in France and three times as high as Germany. This success and proliferation in the UK shows there is an appetite for change in how people pay for goods and the increasingly important role of mobile. “Apple is renowned for streamlining and popularising concepts, just think of its impact on MP3 players, digital music and media, smartphones and mobile apps. Although Apple Pay is not the first of its kind, the company’s reach and ability to evanglise is central to driving mobile payments adoption. “Apple doesn’t need to have a monopoly in payments to drive change in consumer behaviour and retailer POS systems. Delivering a best in class service that is widely promoted, Apple has the ability to turn another sector on its head.” Peter Honegger, Newcomer Wines, said:
“We have been using iZettle’s contactless reader for the last couple of weeks and it really has helped make the whole payment process quicker and more efficient for our customers. We have always been open to innovative ideas that help to support our retail experience so we are excited to accept Apple Pay as a wine merchant in the UK.” Read more on contactless payments:
- Visa contactless payments smash one billion mark across Europe
- Majority of the UK’s shoppers willing to pay via wearable devices
- Card is king: Brits spent a record £600.3bn via debit and credit cards in 2014
Felicity Hardley, senior lecturer, Westminster Business School, said:
“Apple Pay might become the preferred form of contactless payments for consumers before long. Today’s launch of Apple Pay could dramatically accelerate the use on contactless payments by consumers and could increase sales of iPhones and the Apple Watch.
“Apple Pay will revolutionise the way we shop, helping to create the UK’s first ‘cashless generation’ for whom paying with cash is as alien as using a landline or renting a video. Young people have always been early adopters and will be quick to favour businesses who offer the convenience and flexibility of contactless technology. Those that don’t will miss out to their more savvy rivals.”
Aunkur Arya, SVP and GM, PayPal-owned Braintree, said:
“Merchants and developers in the UK can now easily add Apple Pay to their checkout flow in addition to PayPal, credit cards, and debit cards. At Braintree, we’re continuously expanding our platform to enable merchants to deliver the best commerce experiences.
“Today, we are enabling UK and global merchants such as hungryhouse, Just Park, YPlan, Bar Pass, Top10, Bizzby, Mr & Mrs Smith, StubHub, and HotelTonight to be some of the first to accept Apple Pay in the UK.
“PayPal has long been a pioneer of mobile payments. Our founders had the idea of letting people beam money to each other via mobile devices. That vision has stood the test of time, and last year we handled $46bn in mobile payments. Every day, millions of people click on the famous PayPal button when shopping on their favourite websites. Our best kept secret is the fact we are the leading open payments platform for businesses.
“PayPal will soon enable businesses of all sizes to accept Apple Pay anytime, anywhere with the latest version of our PayPal Here card reader [which] will also accept contactless cards and traditional Chip & PIN cards.
Emma Crowe, chief of client strategy, Somo, said:
“Chip and PIN payment has been in the UK since 2006 and contactless payment since 2008. The UK is familiar with paying by waving at a terminal, and contactless spending tripled last year to £2.3bn. Therefore, Apple is entering a market that’s ripe for Apple Pay adoption.
“However, competition will still be fierce. The banking giant, Barclays, is preparing to take Apple head on with their suite of contactless payment tools – a sticker, a key fob and a wristband.
“I’m certain we will see millions of consumers create Apple Pay accounts as soon as they can, curious to test it out. Contactless payment terminals are already in place, so for retailers, there’s very little, if any additional hardware needed to utilise Apple Pay. Although, they will need to look at their entire customer journey to ensure it is seamless and consistent across every touch point.”By Zen Terrelonge
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