Digital wallet transactions are set to overtake card transactions and other payments in the UK within 10 years, according to new research by FreedomPay and Retail Economics.
The research revealed that the share of digital wallet payments will likely more than double by 2032/33, accounting for 39.7% of all transactions, valued at £210bn.
Currently, 17% of retail, leisure and hospitality spending is made through digital wallets, amounting to £72.5bn.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.