Technology has forever changed the financial sector by creating easier ways to make and receive payments. Modern consumers don’t have to visit stores or use cash and credit cards to pay for goods or services. They can complete such transactions through an app on their smartphones. Over the years, tech advancements have made mobile payment services easier and more secure.
Besides catering to their daily purchases, mobile payment services enable users to send money overseas through their phones. This has made it easier for businesses to transact internationally and capture global markets. In the UK, the demand for mobile payment services is fast increasing due to its convenience. In this article, we explore the most used mobile payment services in the UK in 2023.
1. Samsung Pay
Samsung Pay is an exceptional mobile payment application for both consumers and businesses. It is compatible with many terminals and this makes the payment process efficient and swift. Using this app, you can pick a card by moving your finger up on the mobile phone’s screen and placing your fingerprint on the smartphone reader. To pay for any service or product, you will have to position your smartphone at least one centimeter from the terminal.
This mobile payment service employs cutting-edge secure data transmission technology, which generates a security token for every successful transaction. Once the token is created, it will prevent the information from being used again. Samsung Pay comprises an advanced security platform that monitors your smartphone and prevents cyber-attacks. Moreover, this app can be used anywhere bank cards and other mobile payment services are accepted.
2. Apple Pay
Just as its name suggests, Apple Pay is purely dedicated to Apple devices. Using this app, you can make contactless and secure purchases in apps, stores, and online platforms. Furthermore, you can also use it to receive and send money to friends and family members. This platform guarantees quick payments and is more secure and user-friendly than most payment systems.
This app also provides an easy and quick way of purchasing games and mobile apps. Apple Pay is also the channel for purchasing subscriptions for Apple Arcade, Apple News+, Upgraded iCloud Storage, Apple Music, and other Apple services. Moreover, this app also makes online purchases seamless since it will autofill all your information so that you will no longer have to create user accounts and fill out lengthy forms for each transaction.
3. Boku
This mobile payment app offers a streamlined and safe global online payment system. Besides the United Kingdom, it covers more than 91 nations and is integrated with over 330 mobile payment service providers worldwide. Therefore, it is the appropriate mobile payment platform for anyone interested in making and receiving payments worldwide. You can also use it on any mobile device because it is compatible with both Android and iOS devices.
Boku’s main advantage, however, lies in the fact that you don’t need credit or banking details to sign up, making it easily accessible. While it is mainly used in the marketing, social media, and education industry, Boku’s use is far and wide. It has even seen an increase in usage in the online casino industry, with plenty of guidance available to making deposits at online casinos using Boku and other payment methods.
4. Cash App
If you need a mobile app in the UK that functions without a bank account and is suitable for buying Bitcoins, consider using the Cash App. This payment service will enable you to receive and send money anywhere and anytime. You only need a $Cashtag to enjoy its fast and secure services. $Cashtag is a unique identifier that anyone who opens a Cash App account must create. It contains numbers and letters that will be visible during transactions rather than your full name.
Cash App also gives you the privilege of making three free ATM withdrawals if your monthly income is less than $300. Moreover, the Cash App allows anyone to invest in Bitcoin and stocks easily. This mobile payment app also employs highly advanced safety measures to protect its users. While using the Cash App, you can be sure that your information and money are safe due to its advanced verification locks and data encryption protocols.
5. PhonePe
This app allows users to transfer money instantly using their mobile number. Its process of sending and receiving cash is safe, simple, and universally accepted. With PhonePe, you won’t see the need to use bank cards or cash again. Through this app, you can attain your financial goals, build wealth, and even invest your money.
PhonePe also provides the perfect alternative for paying your bills, sending money, and buying gold. Its user-friendly interface makes shopping in online stores, ordering food, booking flights, and purchasing groceries easy. The convenience of this mobile payment app is slowly turning into the new normal not only in the UK but in the rest of the world.
6. PayForIt
PayForIt isn’t a specific brand like other mobile payment services. It comprises an assortment of mobile network operators in the UK who are using the same mobile phone payment system. PayForIt is a Direct Carrier Billing app that allows smartphone users to settle payments in any part of the world using their mobile phone credit.
This app is perfect for making one-off payments as well as subscribing to a particular platform. With every transaction you make, you will receive a notification message on your smartphone which serves as the receipt of the purchase. This feature makes it easy to track your spending habits and manage your budget well.
In Conclusion
Thanks to technology, the world is fast-changing, and most businesses and consumers are quickly adapting to these changes. Unlike in the past, people are now ditching conventional payment methods and using mobile payment apps instead.
Paying through smartphones is way safer than carrying cash. It also makes it easier for customers to pay in physical or online stores. Many remarkable mobile payment apps such as PayForIt, Boku, Samsung Pay, and Apple Pay are providing payment services to increasing users in the UK and globally. You can use any of these apps to enjoy the convenience of mobile payment services.