The dramatic growth of mobile phones in the last decade has opened up a range of payment possibilities. As mobile phones develop new services, such as web browsing, video streaming and cameras, they could in the future incorporate the capability to perform the same tasks as credit and debit cards. Using similar technology to contactless payment, phones could effectively become a credit or debit card themselves, beaming the card information to a terminal or acting as an electronic purse that can be loaded with money and used instead of cash for low-value purchases.

APACS works closely with key stakeholders, including mobile network operators, payment schemes, standards bodies and trade organisations, to ensure that the development of mobile payments in the UK and elsewhere meets the requirements of the banking industry.