Digital wallet use to surpass card payments within 10 years
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.
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