One in five Brits now prefers using their mobile phone to make payments in stores
A recent survey has revealed a significant shift in the UK’s payment landscape. One in five UK consumers (20%) now prefers using mobile payment services such as Apple Pay over traditional cash (17%) or chip & PIN card payments (10%) for in-store purchases. UK mobile payment trends
This trend indicates a growing acceptance of digital payment methods, with mobile payments becoming a preferred choice for many.
Contactless Card Payments Still Lead, But Mobile Payments Are Catching Up UK mobile payment trends
Despite the rise in mobile payments, contactless card payments remain the most popular payment option, with 48% of consumers opting for this method. However, younger consumers are driving the adoption of services such as Apple Pay and Google Pay. The survey found that three in ten 18-24-year-olds identified mobile payments as their preferred option (30%), indicating a generational shift in payment preferences.
Convenience: The Key Driver for Contactless Payments
Nearly nine in ten of those who prefer contactless payments cited convenience as one of the key reasons for doing so (88%). In contrast, cash may not be the convenient option it once was. Two in five (40%) respondents who preferred contactless said they never carried cash. In fact, nearly a third (31%) of all survey respondents said that they never carried cash, while one in fifteen (7%) admitted that they didn’t even know their PIN.
The Decline of Cash-Only Businesses UK mobile payment trends
The survey also highlighted the challenges faced by cash-only businesses. Less than half (47%) of respondents said they would happily shop with a cash-only business. One in seven people (13%) said that they wouldn’t because they never carry cash. One in three (33%) would still consider shopping with a cash-only business but admit that they’d find it a hassle.
Regional Variations in Contactless Payment Preferences
The survey also found regional variations in contactless payment preferences. Consumers in Scotland were the most likely to prefer contactless payments (63%), while consumers in Wales were the least likely (33%). This data suggests that while the overall trend is towards digital payments, regional factors, and preferences still play a significant role.
The survey was conducted with 1,056 adult UK residents in June for card payment services provider Takepayments. This shift towards mobile payments over traditional cash and cards is a clear indication of the digital transformation in the payment industry, driven by the convenience and ease of use offered by mobile payment solutions.
