Nearly half of UK consumers (44 per cent) would change their bank account if their current provider did not offer m-payments and had no plans to do so, new research from Zapp has claimed.

Of these, a third said they would do so within a year, according to the survey of 2,000 people carried out by the bank-backed mobile payments outfit, which is set to launch next year.

The study found that enthusiasm for mobile payments had “skyrocketed” over the last 15 months. Some 28 per cent of consumers have already used their phone to make a payment (an increase of 64 per cent from September 2013). A further 59 per cent said they would use their phones to pay if a simple system existed that did not require extra set up (a rise of 48 per cent).

Demand was particularly high among the 35-44 year old age group, where 46 per cent had already made payments on their phone and 71 per cent would do so if an easy system existed.

Consumers also reported that their mobile would become their preferred method of payment before the end of the decade for purchases including sandwiches (51 per cent), car fuel (52 per cent), and travel tickets (57 per cent). One in five even said they would even buy a house using a mobile payment in five years’ time.

By 2019, 47 per cent of all respondents said they would actively choose to shop online or in-store with a retailer because it accepted mobile payments, with 24 per cent of these people saying they would do so within a year.

Commenting on the findings, Zapp’s CEO Peter Keenan said: “The success of early forms of mobile payment and the buzz around forthcoming launches of mass market initiatives has clearly whetted consumers’ appetites.

“This research shows that anticipation levels are running high and it suggests banks and retailers stand to gain significant competitive advantage from offering and accepting mobile payments early. I’m confident 2015 will prove a tipping point, as simple, secure mobile payments like Zapp become a reality for millions of British consumers.”

When it’s rolled out in 2015, Zapp (part of VocaLink) will enable real-time phone payments between consumers and retailers, through people’s existing mobile banking applications. Banks and retailers who have already announced their support for Zapp include HSBC, first direct, Nationwide, Santander, Metro Bank, Sainsbury’s, Asda, House of Fraser, Thomas Cook and Shop Direct.

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