UK Mobile Payments Forecast 2021

How Wallet Providers Can Drive Usage in a Large but Slow-Growing Market

Global Mobile Payments Forecast 2021

Forecasts for three markets: Canada, China, and UK

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About This Report
Proximity and peer-to-peer mobile payments are on the rise in the UK, thanks to high user adoption of mobile and banking. However, growth is slow, which means that wallet providers looking to crack the market will need to get creative.
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Executive Summary

Proximity and peer-to-peer (P2P) mobile payments are on the rise in the UK, thanks to high user adoption of mobile and banking. However, growth is slow, which means that wallet providers looking to crack the market will need to get creative in convincing users to adopt these services or use them more often.

3 KEY QUESTIONS THIS REPORT WILL ANSWER:

  1. What trends are helping to accelerate growth in the UK mobile proximity and mobile P2P payment market?
  2. What market dynamics are driving consumer behavior trends, and how are they impacting providers’ revenues, competitive positioning, and performance?
  3. How can providers tap into this growth to attract new users and boost engagement?

WHAT’S IN THIS REPORT? Factors driving UK consumer habits around proximity and P2P mobile payments, the market dynamics affecting providers’ business performance in the space, and actionable steps providers can take to secure users and grow their mobile payment business.

KEY STAT: We expect the number of UK mobile proximity payment users will grow from 11.2 million to 13.9 million between 2021 and 2025.

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authors

Jaime Toplin

Contributors

Daniel Decea
Researcher, Financial Services
Nazmul Islam
Junior Forecasting Analyst
Cindy Liu
Senior Forecasting Analyst
David Morris
Principal Analyst