Mobile payments have not taken hold in the United Kingdom, but there are signs they could, according to data from Auriemma Consulting Group LLC.
Megan Bramlette, an Auriemma managing associate, said that banks, processors and wireless carriers have yet to work out a business model but that consumers are starting to show more interest in using their phones to make payments.
"It's a business issue, not a consumer-adoption or technology issue," she said.
The players have yet to decide how to divvy up the fees for mobile-payment services but could be stimulated to do so if interest peaked. "If consumers were going bonkers about this, then you can be sure the business model would shake out faster," Bramlette said.
A report released last month said 12% of 511 consumers surveyed said they would consider changing mobile carriers to take advantage of mobile-payment technology and 15% said they would obtain a new handset to use the service, if they had to.
This is a substantial finding, Bramlette said, because switching phones and carriers is time-consuming and consumers typically will take it on only when they have significant customer-service issues.
