VIDEO: Is 2014 the year of mobile payments?

Much of the innovation that is driving retail this year is expected to centre on payment technology.

Many of the retailers that Essential Retail has spoken to in recent months have said they are looking forward to the mobile payment piece taking off, but are naturally cautious about proceeding with what is arguably the most sensitive part of the purchase process.

A significant proportion of the new payment technology companies looking to penetrate the market were at this year’s RBTE, which took place at London’s Earls Court in March.

Mobile payment tipping point has been spoken about for a number of years, now, but perhaps 2014 could be the year that they finally push through to the mainstream.

Brian Kilcourse, managing partner at US-based RSR Research, said: “As retailers are pondering the question “Why mobile payments?”, the real question perhaps is “Why NOT mobile payments?”

“Once the issues identified in the answer to that question are resolved, consumer acceptance of mobile payment options should happen. And the collective wisdom at RBTE 2014 is that it will happen very soon.

Payment Eye put this video together, highlighting the innovations on show at RBTE 2014.

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