A recent Lloyds Bank survey revealed that a quarter of Brits think that in just five years’ time they will no longer need cash and the culture of convenience is set to have an increasing influence upon the cashless Revolution. Transport for London (TfL) is one of those leading this cashless trend with 3.2 million commuters (some 35,000 people a day) paying for journeys with their mobile devices since Apple Pay’s launch. Once Android Pay is available this figure will rise further.
Since its launch in the US last September, Android Pay has been gathering momentum, with now over a million stores – such as Disney Store, Macy’s and McDonald’s – all accepting it for payments. Now Android Pay has launched in the UK, we’re interested to see the impact of it, and anticipate it will gain immediate traction seeing that Android has surpassed Apple as the most popular mobile operating system in the UK earlier this year.
There’s an ongoing revolution in e-commerce and payments. The way we use digital money is transforming and spilling over into the physical world through the continued growth of contactless, Apple Pay and now Android Pay – another example of how our industry is changing to accommodate consumers’ changing attitudes towards payments.