TfL: Mobile payments rise as customers choose contactless

TfL: Mobile payments rise as customers choose contactless

New figures from TfL show that contactless payments are used in over a quarter of journeys, with 3.5% made using a mobile phone.

Research by the transport network showed that more and more customers are opting for contactless methods of payments when travelling. This preference saw an extra 7,000 mobile devices used every week, with 3.2m journeys since July 2015 paid for using some form of mobile payment.

The adoption of mobile payments across London has been widespread, particularly in its transport network where services such as Apple Pay have made mobile payments a quick and easy alternative to using a contactless bank or Oyster card.

At the time of launch, Apple’s payment service was predicted by Visa and MasterCard to mark a turning point for mobile payments, which had in the past failed to take off. The popularity of mobile payments is predicted by TfL to continue to grow throughout 2016 as more services become available to the public, notably the anticipated UK launch of Samsung Pay.

This has been echoed by payment heavyweight MasterCard, which sees mobile payments taking grater precedence in the market as new players enter the fray.

Mike Cowen, MasterCard’s Head of Digital Products for the UK & Ireland said: ‘Combining contactless at TfL with Apple Pay is a perfect example of how two amazing developments can complement each other to create an even more convenience for consumers. The numbers will only increase as more consumers adopt mobile payments and other providers come to market.’




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