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Learn More →UK P2P Payments Forecast 2023
How Mobile Banking Apps and Digital Wallets Can Overcome Slow Growth
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Table of Contents
Executive Summary
Lackluster mobile P2P payments growth calls for a new approach from providers.
P2P providers can blend convenience, security, and broader use cases to boost usage.
Sources
Media Gallery
About This Report
UK mobile P2P payments usage growth has a case of the doldrums—but bank and digital wallet providers can explore several options to give it a boost.
Table of Contents
Executive Summary
Lackluster mobile P2P payments growth calls for a new approach from providers.
P2P providers can blend convenience, security, and broader use cases to boost usage.
Sources
Media Gallery
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?
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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.
authors
David Morris
Contributors
- Eleni Digalaki
- Principal Analyst
- Chris Keating
- Director, Research
- Andrew Spink
- Forecasting Analyst
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