On July 14, 2015 Apple Pay was rolled out in the UK, allowing iPhone, iPad and Apple Watch users to take advantage of Apple's take on contactless and mobile payments, which incorporates technology that allows users to swipe their mobile device on a point of sale terminal to purchase a product or service. Several major banks and credit card providers are already supporting the service.

On July 1, 2015 Facebook announced that its Messenger payments service is available to all users across the US. The service allows the app's 700 million users to connect a MasterCard or Visa debit card to their accounts, and from there send instant payments to other service users.

What this means for you

These high profile developments are consistent with the rest of the market as technology firms look to develop a significant role in the mobile payments market. However, they are overlaying their technology on the existing solutions/infrastructure of banks, building societies and the networks, so it will be very much a case of the different players working together as the mobile payments sector continues to rapidly expand.