United Kingdom Mobile Payment Market Report and Forecast 2025-2034

United Kingdom Mobile Payment Market Outlook

The United Kingdom mobile payment market size is projected to grow at a CAGR of 23.2% between 2025 and 2034. The market is being driven by the development of robust financial infrastructure and the flourishing travel and tourism sector.

Key Takeaways

• 1/3rd of all POS transactions in the UK are expected to occur through digital wallets by 2027.

• According to Worldpay, ½ of all e-commerce transactions in the UK are expected to occur through digital wallets by 2027.

• In 2022, contactless payments recorded a y-o-y increase of 30% in the UK, reaching 17 billion.

The development of financial infrastructure that enables instant real-time digital payments is expected to drive the market growth over the forecast period. Moreover, an anticipated increase in consumer trust regarding mobile payments, driven by government-backed initiatives, is expected to propel the market growth.

The food and beverage industry is witnessing increasing adoption of QR-code-based payment strategies because of its increased flexibility and convenience. By automating the process of collecting payments, businesses have been able to minimise labour costs and improve operational efficiencies. This is one of the key United Kingdom mobile payment market trends.

The tourism industry is also expected to benefit from the widespread adoption of mobile payment systems across the UK. By improving the payment collecting mechanism, the traveller experience can be significantly improved, and record keeping optimised. This is expected to drive the market growth.

Apple Pay is expected to remain the most popular mobile payment app in the UK. Clothing and accessories, groceries, and healthcare products are some of the topmost purchase categories where people make mobile payments in the UK. According to Rapyd, the expansion of e-commerce has led to a substantial increase in the number of digital payments across the country, with people preferring it over cash payments. This is expected to contribute to the United Kingdom mobile payment market growth in the forecast period.

Market Segmentation

United Kingdom Mobile Payment Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Technology

• Direct Mobile Billing

• Near Field Communication

• Mobile Web Payment

• SMS

• Mobile Application

• Others

Market Breakup by Payment Type

• B2B

• B2C

• B2G

Market Breakup by Location

• Remote Payment

• Proximity Payment

Market Breakup by End Use

• BFSI

• Healthcare

• IT and Telecom

• Media and Entertainment

• Retail and E-Commerce

• Transportation

• Others

Market Breakup by Region

• England

• Wales

• Scotland

• Northern Ireland

The key United Kingdom mobile payment market players are Alphabet Inc., Samsung Electronics Co. Ltd., Amazon.com Inc., PayPal Holdings Inc., Apple Inc., Block, Inc., Elavon Inc. (Opayo), Stripe Inc., MoneyGram International, Inc., and Visa Inc., and Mastercard Inc., among others.

Key Highlights of the Report