UK Mobile Payments

How Wallet Providers Can Turn Maturity Into Adoption

About This Report
With UK proximity mobile and peer-to-peer payments stagnating, providers in the market will be forced to focus on ways to resolve pain points, engage top user demographics, and facilitate growth around the margins.

Executive Summary

Entrenched habits and perception challenges have stalled UK mobile payment market growth. Shifting strategy toward engagement—while also seeking out new users at the margins—can drive expansion amid economic uncertainty.

Key Question: Faced with a saturated market, how can UK banks and wallet providers increase wallet engagement?

KEY STAT: Just over a quarter of smartphone users in the UK have adopted proximity mobile payments, signaling broader stagnation in a market that needs to pivot toward driving engagement.

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Table of Contents

  1. Executive Summary
  2. UK Mobile Payments in a Mature Market
  3. UK Proximity Mobile Payments
  1. UK Mobile P2P Payments
  2. Read Next
  3. Sources
  1. Media Gallery

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Jaime Toplin


Daniel Decea
Researcher, Financial Services
Eleni Digalaki
Principal Analyst
Iwona Drapala
Senior Forecasting Analyst
Reuben Loewy
Director, Report Editing
David Morris
Principal Analyst