News & Views - Savantor

Is 2014 the year for mobile payments?

Sunday, 09 February 2014
According to figures recently released by the UK Cards Association in their Annual Report for 2014, the key trends emerging in payment card usage include: A continued, albeit slowing, increase in the number of debit cards in issue - reaching its highest peak ever in November 2013, at 90.5 million, an increase of 1.68% over the previous 12 months. A decrease in the number of credit and charge cards, falling from its peak of 70.5 million in 2005 to 57.9 million in November 2013. An increase in online card spending of 66.1% during the period 2008 – 2012. 2013 proved to be pivotal in the adoption of contactless by the UK consumer, with a number of mainstream retailers accepting it as means of payment and building on its widespread use at the Olympics the previous year: By the end of 2013, the number of contactless cards in issue had increased to 39 million, up by 26% from the end of 2012. Although the number of contactless debit and credit cards in issue at the beginning of 2013 was comparable, the biggest increase during the year was in contactless debit cards, which showed an increase of over 30% of cards in issue, as opposed to contactless credit cards increasing less than half that amount. During 2013, 94 million transactions were made using contactless cards, which was treble the number made in the previous year. However, the continued evolution of payments in the mobile arena – both card and non-card based – is one of the areas that seems likely to promise the most exciting growth in the coming year. In January five U.K. financial institutions with a total customer base of 18 million – HSBC, first direct, Nationwide, Santander and Metro Bank – announced their intention to roll out Zapp mobile payments for their customers. (Zapp is an independent subsidiary of VocaLink). At the beginning of February, UK telco joint venture Weve (EE, O2 and Vodafone) announced that it has teamed up with MasterCard with the intention of bringing NFC-based mobile payments to the masses. Visa announced at the end of last year that their initiative, a pan-European digital wallet service, was live in the UK, France, Spain and Poland and being offered by the Nationwide Building Society. At last there seems to be some consolidated approaches to offering UK consumers mobile capabilities – and it will be interesting to see how each of them fares, along with any other mobile initiatives already in place or introduced during the year.
Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Acquirer Risk Assessment

"The expertise provided by Savantor has greatly helped us evaluate our risk position and to take the right steps in managing our future risks. Strong, disciplined planning and an ongoing willingness to work closely with our staff played an enormous part in making this a very successful well-delivered project which will greatly help us in achieving our business goals."

Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Payments Platform Strategy and Sourcing

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with our team and actively contribute. Their experts quickly forged strong working relationships and delivered to our brief. We enjoyed working with them to develop our future platform strategy."

Evert R Fekkes, SVP - Payment & Savings Services - Rabobank Nederland

Acquirer Specialist Support

"OP-Pohjola Group has used Savantors help in numerous different specialist projects differing from risk assessment to management tool creation to transaction analysis. We have been very satisfied by the quality of the service provided by Savantor's experts."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

EMV Migration Planning

"It was a strategic imperative for the bank to be EMV compliant for our payment cards and the experience that Savantor brought to the company has proved to be invaluable."

Eddie Sweeney, Chief Technology Officer - AIB Bank - Ireland

Collections Transformation

"Savantor did an absolutely superb job for us on the Collections programme. The professionalism, hard work, courtesy and tenacity of their experts is a credit both to the individuals and to Savantor."

Peter O'Dea, Senior Manager - Collections Department - Permanent tsb bank - Ireland

New Payments Initiative

"In moving our new initiative into reality, we required specialist payments knowledge and forward thinking in the retail sector. Savantor supplied this and provided very effective guidance throughout. We enjoyed working with them."

Sophie High, Head of Innovation Delivery - Cancer Research UK

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.