Mobile payments in the United Kingdom (UK) - statistics & facts

The payments industry has seen dynamic changes in today’s digital and financial world. Since the 1980s, the industry has expanded and upgraded from the utilization of Point of Sales (PoS) to mobile PoS systems, allowing merchants to process payments with wireless devices such as tablets or smartphones. Worldwide, the value of transactions made through mobile PoS payments is projected to grow at an impressive pace within the next five years. In the United Kingdom (UK), the number of mobile payment users (those who make transactions using a mobile Point of Sale device) was projected to be at over eight million in 2019. By 2023, a quarter of all smartphone users in the UK is forecast to make in-store payments made via smartphone.

Mobile payment users

Increasingly, cash usage is declining, since consumers are choosing more convenient payment methods such as contactless cards and digital wallets. Using mobile phones to make contactless payments is particularly popular with younger generations, and the main reasons why consumers choose digital wallets over other mobile payment methods are concentrated around convenience and practicality. Similarly, when asked if they were comfortable with the idea of living in a cashless society, younger generations responded more positively than consumers in the older age groups.

From mobile to digital

While cash is losing its monopoly to mobile solutions in the payments industry, digital technologies are constantly pushing for a transition from the physical to the virtual. Digital payment solutions such as PayPal and Google Pay are growing more popular with consumers, with the former boasting more than two million monthly active users in the UK. Younger generations, particularly Gen Z and millennials, are driving this shift towards choosing mobile payment apps. In a 2019 survey, those in the age groups 18-26 and 27-37 constituted the majority of consumers who switched to payment apps in the UK. This rate was considerably lower among older consumers.

Interesting statistics

In the following 5 chapters, you will quickly find the 26 most important statistics relating to "Mobile payments in the UK".

Mobile payments in the United Kingdom (UK)

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Important key figures

The most important key figures provide you with a compact summary of the topic of "Mobile payments in the UK" and take you straight to the corresponding statistics.

Mobile and digital transactions

Payment apps

Contactless payment usage

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