Visa Europe Predicts Boom in Mobile Payment Sector by 2020

Visa Europe Predicts Boom in Mobile Payment Sector by 2020

Mobile payment methods will replace cash and cards in UK by 2020, according to research by Visa Europe. The study, which was concluded upon the participation of 12,015 European consumers, predicted that the UK markets will stem a whopping £1.2 billion/week, with six in ten Britons expecting to use their mobile device for making payments by the aforementioned year. At present, only one in 12 people use mobile payment methods. "The UK mobile payments boom will see an upsurge in the weekly value spent using mobile devices, with the market growing to an estimated £1.2 billion per week by....


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Quotes

Bitcoin is the opposite of PayPal, in the sense that it actually succeeded in creating a currency. However, its payment system is lacking, and it is often used to make illegal transactions, such as to buy heroin. Until Bitcoin is used to make more legal transactions, I am a bit skeptical.

Peter Thiel, Co-Founder of Paypal