What Mobile Payment

The fast growing world of mobile money

Mobile Payment Phone

Mobile Payment Phone

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Mobile Digital Payment Account

Mobile Payment Account

From mobile money to paying by mobile phones, see whats right for you.

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Mobile Pay

Mobile Payment Acceptance

Start accepting card and mobile payments for your business today.

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Compare Mobile Pay

Compare Mobile Money The best digital payment for your business

What are mobile payments?

Also known as digital payments and mobile money transfer, these new payment methods are set to transform how people pay businesses and send money to each other. With the increasing adoption of mobile phones and smart devices users are able to manage their money and transmit payments securely between people, merchants and companies. Mobile payments are commonly associated with mobile wallets on your mobile phone or via a mobile app downloaded to your mobile device.

Why is mobile pay growing?

As mobile phone usage increases there are several rapidly developing new technologies, these are being driven by regulatory change and user adoption which can differ across the globe depending on differing market conditions, consumer needs and current technology adoption. There is a large focus on developing countries with a view to expanding financial services to the “unbanked” or “underbanked”. Here in the UK we have seen a big drive with UK regulators pushing Open Banking and the wider European Union implementing Payment Service Directive 2 (PSD2) on all financial institutions. These initiatives make it much easier for payment users to share their transaction and payment data securely with businesses and there are now lots of new "fintech" companies creating new and easier ways for users to manage their money more efficiently and also pay for goods and services allowing people and businesses to receive payments instantly.

What has changed with digital payments?

Traditional Financial Institutions:

People have been using cash more infrequently for a number of years and even the trusty old cheque book rarely gets used, Debit and Credit cards have seen a massive rise since internet shopping became one of the easiest ways to spend money in the late 1990’s. Since then Mobile Phones have significantly changed the way we find out information, communicate and now the way we spend our money. As we are now embracing Mobile Banking there are lots of technocrats creating new services and technology to not only make it easier for us to spend money but also manage, budget and control where we can spend our money securely.

Issuing Banks – Typically your high street bank but there are a large number of challenger banks and e-money institutions looking to provide you new and innovative ways to manage and control the spend of your money. Mobile Banking has completely changed how we now interact with our banks, a lot of the things we want to do we now want them to happen instantly meaninig some significant changes for some of the old banks but new businesses can start fresh much more easily.

Payment Networks – Visa and Mastercard have seen a significant rise in popularity since consumers embraced debit, credit and prepaid cards in recent years. We must not forget some of the tradition payment networks like bacs and faster payments that allow us to send money from bank to bank and manage things like Direct Debits and Current Account Switching. As Mobile Payment grow these networks need to facilitate payments and settlement of funds almost instantaneously.

Acquiring Banks – A relationship between a bank and company allowing businesses to receive payments into their business accounts from consumers issuing bank accounts. Businesses need to be able to accept a number of different mobile payments as there are now so many different payment options that consumers are choosing.

Mobile Businesses:

With almost 60% of the world population now owning a mobile phone or tablet and the fact there is more smart devices than people in the world it is no surprise that mobile businesses will look to get a slice of the payment market that has typically been restricted to the big banks. There are a few key players looking to make waves in this space.

NFC chip manufacturers - These companies have been producing credit, debit and prepaid card for some time, with the move to contactless card and NFC technology they had to make significant investment and are now looking to maximize the opportunity as we see the same technology adopted in mobile phones. They have much experience encrypting and storing the card or account number on a chip also known as the secure element, now being stored in mobile phones.

Mobile phone handset manufacturers and mobile device companies - The key players here are Samsung and Apple both creating their mobile wallets, Samsung Pay and Apple Pay. We can’t forget Google which was quick off the mark with Android Pay found on the vast majority of mobile phones. All allow you to securely store your card or account information on the phone.

Mobile network operators - As these companies have been delivering data to your mobile phone since becoming popular they have been trying to get a slice of the payment action by finding ways to create payment methods or delivering secure information over their networks onto the phone to prevent and of your payment information being compromised.

Retail and high street shops:

Traditional businesses have probably seen the biggest impact with the rise of internet shopping, those that still have a strong high street presence or starting pop-up shops are finding technology is providing a lot of creative ways to incentivise people to come to their shops or stores and allow them to pay much easier in person with their contactless card or via their mobile phones.

Point of Sale (POS) providers - Most shops now have a POS terminal where we either dip our chip and pin card, tap a contactless card or now even tap our mobile phone. There are a number of new technologies being developed that mean we can scan good ourselves on our phone or just being present at the till enables identification for our accounts to be debited. These have been significantly challenged with the move to online shopping.

Merchants - Companies must now be able to take payments in person and via the internet. The main driver for businesses is being able to allow customers to pay in whichever way is most convenient unfortunately meaning they usually need a number of methods to take payments from customers.

Advertising & Loyalty:

As we are seeing a proliferation in the number of ways people can pay for things it really comes to what additional value can be provided to the business or the individual to use a preferred method of payment, this is where advertising and loyalty has an ability to help make a decision.

Online advert inserts - Companies will pay to advertise to payers or payees when transacting through particular channels. This can provide many benefits for consumers and increase a businesses cashflow.

Rewards - We have seen these work for years with coupons and vouchers (think of the successful Tesco clubcard), we are now seeing these virtualised on mobile devices during the shopping or sales process to encourage consumers.

Location based offers - As mobiles emit a location companies can incentivise consumers when they are instore or near a shop or pop-up stall.

Contextual awareness - Valuable data can be captured during transaction processes to inform on optimum user experiences and how to maximise customer satisfaction.

Best Mobile Payment for my business?

What Mobile Payment looks to provide a view into the world of mobile payments and help your business navigate the number of payment options that are available for your business. If you are looking to start a new company or create a pop-up shop, grow your business or simply just looking to reduce business costs we have helpful mobile payment guides, payment acceptance reviews and mobile pay comparisons of the latest mobile business innovations and mobile money technology available.

Mobile payments reviewed and mobile money comparison

If you are simply looking to understand more about mobile money and digital payments or are looking to use mobile payments your business, What Mobile Payment compares and reviews some of the best business payment acceptance methods and mobile devices on the market to allow you to make a decision on the best mobile payment methods for you, your business and your customers.


Payment by mobile phone

Virtual Goods Payment

Common uses are; buying music, software, social games, virtual gifts, mobile applications and e-tickets. Usually small in transaction value, there are a number of innovative mobile solutions that allow businesses the ability to reach customers that would normally favour traditional banking methods like debit/credit cards or cash.

Virtual Currencies
Mobile Phone Carrier Billing
Micro Payments
Mobile Web Payments (WAP)

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Cashplus Business

✓ Simple and quick online applictaion

✓ Guaranteed online decision

✓ Free inbound transfers

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TorFX Account

✓ Best rate guarantee

✓ Free transfers

✓ Safe and secure

Apply! More Info

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U Account

✓ Free Account

✓ Configurable pricing options

✓ Money manager

Apply! More Info


pay by mobile phone

E-Commerce or M-Commerce

These are normally your physical goods and services, currency transfer and traditional financial services. The payment types below benefit from an existing secure and regulated framework and encourage a simplified user experience and creates pressure to reduce transaction costs.

Mobile Wallets / e-Wallets
Debit/Credit/Prepaid cards
Bank Transfer Services
Mobile Card Reader

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Apple iPhone 7

✓ Apple Pay Ready

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Samsung Galaxy S8

✓ Samsung Pay Ready

✓ Android Pay Ready

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Google Pixel Phone

✓ Android Pay Ready

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business mobile pay

Person to Person

Allowing domestic and international money transfer and assisting small merchant payments. These help the financially excluded reduce the need for cash and cheques and are seeing a number of new players in payments like mobile network operators and new Fintech businesses.

Mobile Money Transfer
Account Based Services
Multichannel international Remittance
Digital Payment Account


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izettle Mobile Card Reader

✓ Chip and pin cards

✓ Contactless cards

✓ Mobile Payments

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Sumup Account

✓ Chip and pin cards

✓ Contactless cards

✓ Mobile Payments

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Square Payment Acceptance

✓ Chip and pin cards

✓ Contactless cards

✓ Mobile Payments

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Mobile payment app

Proximity Payments

Commonly low-value physical goods or services and transport payment. They must provide convenience, fast transaction times and help reduce the need to use and carry cash.

Contactless cards
Mobile NFC
Mobile Barcode
QR Code
SMS
Mobile based PoS (Point of Sale) Terminal