Preference for payment by smartwatch in the UK in 2023, by age and gender

Published by
Raynor de Best,
Mar 26, 2024
Gen Z's preference to use smartwatches for payments in the United Kingdom was about twice as high as that of Millennials. This according to a survey held among consumers ages 18 to 75 - with "Gen Z" here being defined as the age group 18 to 24 years old. The source claims the use of smartwatches is "on the rise", and could threaten the future use of cash or credit cards. The market share of digital wallets in the UK nearly rivalled that of cash in 2021, although debit cards remained popular in POS payments.

Share of respondents in the United Kingdom who prefer to pay with a smartwatch over cash, card, mobile phone, or biometric payment method from 2nd quarter of 2022 to 2nd quarter of 2023

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Source

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Release date

September 2023

Region

United Kingdom

Survey time period

Q2 2023

Number of respondents

1,000+ per country

Age group

18-77 years

Special properties

Physical means of payment consumers prefer to pay with if all payment methods were available

Supplementary notes

The source adds a total of 14,114 consumers were surveyed and this includes both Klarna users and users who did not use Klarna. It also adds that sample sizes were nationally representative.

The source does not specify the survey method used.

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Statistics on " Digital payment types in the United Kingdom (UK) "

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Other statistics that may interest you Digital payment types in the United Kingdom (UK)

Market share

7

Penetration

8

Biggest brands

7

Users

7

Transaction value

7

Number of transactions

7

Miscellaneous

7

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Topics

Digital payments landscape in the UKMobile payments with digital walletsE-commerce in the United Kingdom (UK)Fintech in EuropeCrypto payments
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