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UK m-payments report released

TSYS has published its inaugural U.K. M-Payments Consumer research report. The report includes information on key consumer m-payment preferences and provides new insights on a range of related digital engagement topics.

TSYS conducted quantitative research of more than 500 UK consumers, covering diverse demographics, including gender, age and income. The respondents were over the age of 18, had at least one debit card and one credit card, as well as a smartphone.

Have you made mobile payments using your smartphone in the last six months

Have you made mobile payments using your smartphone in the last six months

“With the proliferation of new payment choices and the ever-increasing adoption of mobile wallets, UK consumers now have more payment options than ever before,” said John Goodale, group executive, product and market development, TSYS International.

“In line with TSYS’ belief of ‘People-Centered Payments’, this primary research focuses on the end-user of these new technologies – the consumer – and highlights some important changes in perceptions which will prove of interest for payments industry players in the future.”

Key findings from the research include:

  • 73% of respondents are likely to use m-payments for in-store purchases in the next two years.
  • One-third of respondents made an m-payment in the last three months and were highly satisfied.
  • The adoption of mobile banking apps is no longer exclusively popular for “digital natives” (those born into the digital age), with take-up being spread across all age groups and segments.

The report is available online here

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