Contactless Payments – UK ahead of the US

Last month Apple’s CEO, Tim Cook, said that mobile payments were ‘still in its infancy’. However he may just be talking about the US landscape because this week Visa, the global payments technology firm, revealed payments using its contactless payments technology numbered 5 million in the UK this March. It states that’s five times the amount as compared to July 2012. So, what is happening with mobile payments industry? How are businesses and consumers reacting to the opportunity to make fast payments on-the-go without cash or the traditional wallet?