Mobile payment and consumer behaviour

One of the fast-growing trends in consumer behaviour is mobile payments, meaning payments completed via mobile--contactless-style.

One source says that mobile payments in the UK during 2017 exceeded £975m. Yes, that's nearly one billion pounds.

Another source shows UK mobile payments increasing by 365% during 2017. And it shows payments made via wearable devices (like smartwatches) grew by 129% in 2017.

More tests are underway as businesses and consumers grow accustomed to mobile payments. The Co-Op in Manchester, for instance, is testing a MasterCard app that allows shoppers to pay without ever queueing or stopping at the till.

Similarly, Barclay's Dine and Dash mobile app will enable UK customers to pay for restaurant meals by tapping a special point at the table. No more waiting for servers to bring the bill!

Pizza Hut in the UK is adding MasterCard's mobile payment app so customers can place orders and pay for meals without waiting for the server to bring the bill.

Have mobile payments reached a tipping point where they will now be considered mainstream? Will more payments be made via mobile than via plastic or cash? Marketers are watching consumer behaviour very closely to understand acceptance and adoption trends.