UK P2P Payments Forecast 2023

How Mobile Banking Apps and Digital Wallets Can Overcome Slow Growth

In 2023, 35.4% of UK adults will use mobile peer-to-peer (P2P) payments—and only incremental growth is expected through 2027. But mobile banking apps and digital wallets can pull several levers to jumpstart growth.

Key Question: How can UK mobile P2P providers drive consumer usage through 2027?

KEY STAT: UK mobile P2P payments need a boost: Annual user growth is expected to taper from 4.5% in 2023 to just 2.1% in 2027.

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Table of Contents

  1. Executive Summary
  2. Lackluster mobile P2P payments growth calls for a new approach from providers.
  1. P2P providers can blend convenience, security, and broader use cases to boost usage.
  2. Sources
  1. Media Gallery

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First Published on Sep 20, 2023


David Morris


Eleni Digalaki
Principal Analyst
Chris Keating
Director, Research
Andrew Spink
Forecasting Analyst

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