Barclays: UK m-payments to reach £19.3B by 2021

UK consumers will use their handsets to make purchases valued at £19.28 billion by 2021, according to a study by Barclays Corporate, helped by the greater availability of NFC and high-speed mobile broadband. Barclays said that UK mobile payments, valued at £1.3 billion today, will grow by 55 per cent over the next five years, with just over 50 per cent of shoppers already using their handsets at some stage of purchasing. Richard Lowe, head of retail and wholesale at Barclays Corporate said: "With little new shop space coming into play, the real growth opportunities lie on the virtual high street. Those retailers which are prepared to invest will be at a significant advantage to the competition." Article