Digital wallets are gaining share of retail transactions in the UK as consumers seek secure and frictionless payment options, both in-store and online. Retailers that don’t offer digital options risk losing sales.
Key Question: Why should UK retailers respond to the surge in digital wallet adoption?
Key Stat: More than half (53%) of UK consumers have recently purchased products online using PayPal, and 30% have used Apple Pay.
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Executive Summary
Digital wallets are gaining share of UK retail spending
Digital wallets are the fastest-growing online payment method
Digital wallets are also gaining share of in-store payments
How can retailers leverage the growth in digital wallets?
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Adoption of Mobile Wallets for In-Store Point-of-Sale Payments Is Rising in the UK (millions of UK proximity mobile payment users, % change, and % of mobile phone users, 2022-2027)
Adoption of Mobile Wallets for In-Store Point-of-Sale Payments Is Rising in the UK (millions of UK proximity mobile payment users, % change, and % of mobile phone users, 2022-2027)