New Marqeta Research Finds UK Consumers Are Leading Global Adopters of Digital Payments, With Over Two-Thirds Now Comfortable Ditching Wallet For the Phone
Marqeta's 2024 State of Payments Report reveals UK consumers as global leaders in digital financial services adoption. Key findings include:
- 80% of UK respondents used contactless payments in the past week, compared to 46% in the US
- 50% of UK respondents feel positive about a cashless society
- 68% are confident leaving physical wallets at home
- 74% automatically add new cards to mobile wallets
The report also highlights a growing demand for faster pay, with 88% of UK respondents agreeing earlier access to wages would improve financial peace of mind. While traditional banks maintain a strong presence, 20% of UK respondents would consider switching to a digital-only bank, and 39% would consider non-financial providers for banking services.
Il Report sullo Stato dei Pagamenti 2024 di Marqeta rivela che i consumatori britannici sono leader globali nell'adozione dei servizi finanziari digitali. Tra i principali risultati ci sono:
- L'80% degli intervistati nel Regno Unito ha utilizzato pagamenti contactless nell'ultima settimana, rispetto al 46% negli Stati Uniti
- Il 50% degli intervistati nel Regno Unito ha una visione positiva di una società senza contante
- Il 68% si sente sicuro di lasciare i portafogli fisici a casa
- Il 74% aggiunge automaticamente nuove carte ai portafogli mobili
Il report evidenzia anche una crescente domanda di pagamenti più rapidi, con l'88% degli intervistati nel Regno Unito che concorda sul fatto che l'accesso anticipato agli stipendi migliorerebbe la serenità finanziaria. Sebbene le banche tradizionali mantengano una forte presenza, il 20% degli intervistati nel Regno Unito prenderebbe in considerazione il passaggio a una banca esclusivamente digitale e il 39% valuterebbe fornitori non finanziari per i servizi bancari.
El Informe sobre el Estado de los Pagos 2024 de Marqeta revela que los consumidores del Reino Unido son líderes globales en la adopción de servicios financieros digitales. Los hallazgos clave incluyen:
- El 80% de los encuestados en el Reino Unido utilizó pagos sin contacto en la última semana, en comparación con el 46% en EE.UU.
- El 50% de los encuestados del Reino Unido siente una opinión positiva sobre una sociedad sin efectivo
- El 68% se siente seguro dejando las billeteras físicas en casa
- El 74% añade automáticamente nuevas tarjetas a las billeteras móviles
El informe también destaca una creciente demanda de pagos más rápidos, con el 88% de los encuestados del Reino Unido de acuerdo en que el acceso anticipado a los salarios mejoraría la tranquilidad financiera. Si bien los bancos tradicionales mantienen una fuerte presencia, el 20% de los encuestados del Reino Unido consideraría pasar a un banco exclusivamente digital, y el 39% consideraría proveedores no financieros para servicios bancarios.
Marqeta의 2024 결제 상태 보고서는 영국 소비자들이 디지털 금융 서비스 채택에서 글로벌 리더임을 보여줍니다. 주요 발견 사항은 다음과 같습니다:
- 영국 응답자의 80%가 지난주에 비접촉 결제를 사용했으며, 이는 미국의 46%와 비교됩니다.
- 영국 응답자의 50%가 현금 없는 사회에 대해 긍정적인 감정을 느끼고 있습니다.
- 68%는 물리적 지갑을 집에 두고 나가는 것에 자신감을 느낍니다.
- 74%는 새 카드를 모바일 지갑에 자동으로 추가합니다.
보고서에서는 또한 더 빠른 결제에 대한 수요가 증가하고 있음을 강조하며, 영국 응답자의 88%가 급여에 대한 조기 접근이 재정적 안정감을 개선할 것이라고 동의합니다. 전통적인 은행들이 여전히 강력한 존재감을 유지하고 있지만, 영국 응답자의 20%는 디지털 전용 은행으로의 전환을 고려할 수 있으며, 39%는 비금융 제공자로부터 은행 서비스를 고려할 것입니다.
Le rapport sur l'état des paiements 2024 de Marqeta révèle que les consommateurs britanniques sont des leaders mondiaux dans l'adoption des services financiers numériques. Les principales conclusions sont :
- 80 % des répondants britanniques ont utilisé des paiements sans contact au cours de la semaine dernière, contre 46 % aux États-Unis
- 50 % des répondants britanniques ont une opinion positive sur une société sans espèces
- 68 % se sentent confiants de laisser leurs portefeuilles physiques à la maison
- 74 % ajoutent automatiquement de nouvelles cartes à leurs portefeuilles mobiles
Le rapport met également en lumière une demande croissante pour des paiements plus rapides, avec 88 % des répondants britanniques convenant qu'un accès anticipé aux salaires améliorerait la tranquillité d'esprit financière. Bien que les banques traditionnelles conservent une forte présence, 20 % des répondants britanniques envisageraient de passer à une banque uniquement numérique, et 39 % envisageraient des fournisseurs non financiers pour les services bancaires.
Der Zahlungsbericht 2024 von Marqeta zeigt, dass britische Verbraucher weltweit führend in der Annahme digitaler Finanzdienstleistungen sind. Zu den wichtigsten Ergebnissen gehören:
- 80% der Befragten im Vereinigten Königreich haben in der letzten Woche kontaktlose Zahlungen verwendet, verglichen mit 46% in den USA
- 50% der britischen Befragten haben eine positive Einstellung zur bargeldlosen Gesellschaft
- 68% sind zuversichtlich, physische Geldbörsen zu Hause zu lassen
- 74% fügen automatisch neue Karten zu mobilen Geldbörsen hinzu
Der Bericht hebt auch eine wachsende Nachfrage nach schnelleren Zahlungen hervor, wobei 88% der britischen Befragten zustimmen, dass ein früherer Zugang zu Löhnen das finanzielle Wohlbefinden verbessern würde. Während traditionelle Banken weiterhin stark vertreten sind, würden 20% der britischen Befragten in Betracht ziehen, zu einer rein digitalen Bank zu wechseln, und 39% würden nicht-finanzielle Anbieter für Bankdienstleistungen in Betracht ziehen.
- 80% of UK consumers used contactless payments in the past week, indicating high digital adoption
- 68% of UK respondents feel confident leaving physical wallets at home, showing trust in digital payments
- 74% of UK respondents automatically add new cards to mobile wallets, demonstrating digital wallet adoption
- 20% of UK respondents would consider shifting to a digital-only bank, indicating potential market growth
- 39% of UK respondents would consider using non-financial providers for banking services, suggesting opportunities for embedded finance
- 53% of UK respondents have been with the same bank for a decade or more, indicating potential resistance to change
- 82% of UK respondents still only have access to owed funds at the end of the month, suggesting a lag in payment innovation
- 36% of UK respondents reported using credit between paychecks, indicating financial stress
- 76% of UK respondents cited living paycheck-to-paycheck, suggesting financial vulnerability
Insights
The data highlighting the UK's leading role in digital payments adoption has significant implications for both investors and companies in the fintech space. The UK market is demonstrating a strong and accelerating shift towards cashless transactions, with
Investment Implications: Companies like Marqeta, which provide modern card issuing platforms, stand to benefit substantially from this shift. The increased reliance on digital payments can translate into higher transaction volumes and, consequently, higher revenues. Moreover, the consumer openness to using non-traditional providers (39% of UK respondents) indicates potential market disruption, which could favor agile fintech firms over traditional banks. Investors should monitor how traditional financial institutions respond to this trend and whether they can innovate quickly enough to retain market share.
The findings of the Marqeta report reflect a broader global trend toward digital payments, but the UK's accelerated pace is particularly noteworthy. The data reveals that UK consumers are not only using digital payments more frequently but are also increasingly comfortable with the idea of a cashless society. This societal shift is pivotal for understanding future market dynamics and consumer behavior.
Consumer Behavior Insights: The fact that
The technological infrastructure supporting digital payments in the UK appears robust, yet there's an evident consumer demand for even more rapid advancements. The report indicates that while contactless payments are widely adopted, there is significant room for innovation in wage access and embedded finance. Despite the high adoption rate,
Technological Opportunities: Innovators in the fintech sector can capitalize on these gaps by developing solutions that offer faster access to funds and integrate seamlessly with existing digital wallets. Technologies like Accelerated Wage Access (AWA) could revolutionize how and when consumers access their money, providing financial peace of mind for those living paycheck-to-paycheck. Moreover, the willingness of consumers to engage with non-financial brands for financial services opens avenues for tech companies to diversify their offerings and capture new market segments by embedding financial services into non-financial platforms.
-
In the last seven days,
80% ofUK consumers surveyed reported using contactless payments, compared to46% of US respondents. -
Half (
50% ) ofUK respondents confirmed their cash usage had decreased over the past year, as comfort grows with the idea of a cashless society. -
Embedded finance opportunity builds as
20% ofUK respondents would consider shifting completely to a digital only bank, and39% would consider using a non-financial provider.
The report, the fifth annual Marqeta survey of consumers about their purchase preferences, reveals that
Demand grows for faster pay
The study also finds that in the
“Competition is rife in payments, and there is pressure on payment and financial providers to innovate at the speed demanded by consumers, which means business need to offer people more convenient ways to make payments and access their wages,” said Marcin Glogowski, SVP, Managing Director Europe and
Banking slower to evolve, but change is underway
Within banking,
Download the full report here.
About the research
The survey was performed on behalf of Marqeta by a third-party advisory firm in the payments space in June 2024. Marqeta surveyed 4,000 consumers (2,000 in
About Marqeta
Marqeta’s modern card issuing platform empowers its customers to create customised and innovative payment cards and embedded finance offerings. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratising access to card issuing technology. Its modern architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorise and settle transactions. Marqeta is headquartered in
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business and growth; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723129452/en/
James Robinson
press@marqeta.com
Source: Marqeta
FAQ
What percentage of UK consumers used contactless payments in the past week according to Marqeta's 2024 State of Payments Report?
How does UK contactless payment adoption compare to the US based on Marqeta's research?
What percentage of UK respondents in Marqeta's study would consider shifting to a digital-only bank?
How many UK consumers surveyed by Marqeta feel confident leaving their physical wallets at home?
What percentage of UK respondents in Marqeta's study would consider using a non-financial provider for banking services?
