New payment method an opportunity for UK businesses to connect with affluent demographic
Adyen, the global payments technology company, is today enabling businesses including JD Sports, JUST EAT, Polagram, River Island, Showroomprive.com, Takeaway.com, TransferWise, TravelBird and Vueling to support Apple Pay as it launches in the UK market.
The UK launch of Apple Pay, the most widely anticipated payment method of 2015, follows recent data published in Adyen’s quarterly Mobile Payments Index showing that UK shoppers are already global leaders in the use of mobile payments, with 44.8% of online payments in the market made with a mobile device in Q2 2015, far above the global average of 28.6%. Couple this with the fact that the iPhone accounts for over 40% of smartphones sold in the UK, and that iOS users spend significantly more per transaction than Android users, and the launch offers a compelling opportunity for businesses.
Businesses partnering with Adyen are able to take advantage of the fact that it is the only payments technology provider that supports Apple Pay in the US and the UK both in-app and in-store with a single solution. For businesses that have contactless payments enabled at the point-of-sale, no additional integration work is required. Businesses with iOS applications can support Apple Pay using Adyen’s SDK or develop in-house based on the Apple documentation and use Adyen for transaction processing.
“Offering Apple Pay is exciting for UK businesses because it enables them to leverage Apple’s brand power and target shoppers with a high level of discretionary spending. This is particularly interesting in a market where iPhone penetration is high and mobile payments are already widely used,” said Myles Dawson, Country Manager UK at Adyen. “What’s more, early transaction data from the US shows that transaction success rates for Apple Pay are amongst the highest across all payment methods.”
“Mobile is growing faster than most people would have predicted a couple of years ago, and with Apple Pay, we see a great opportunity to deliver a seamless payment experience and build a deeper connection with some of our most valuable customers, so we’re very excited to partner with Adyen to offer Apple Pay to our UK shoppers at launch,” said Doug Gardner CIO, River Island.
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, Microsoft, Casper, Bonobos and L'Oréal.