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According to Payments UK, by the end of this year, the payments landscape is going to have changed forever. The stats supporting this argument are compelling. Over the course of 2016 the use of contactless payments tripled and the increase in the usage of debit cards was so stark, the industry body recently announced that it believes debit card usage will overtake cash next year – three years earlier than it had initially forecast. If this forecast is shown to be accurate, this will make 2018 the first year that cash has not been the most frequently used payment method in the UK.
This marks a significant shift in the payment preferences of the British population. There are a number of contributing factors in this shift, outlined in Mapa’s free report – download by clicking below.
We look at what consumers expect from a digital experience, the issue of security and convenience, and the acceleration of innovation in the payments arena. We track the user journey for brands like Barclays, Bank Zachodni, Revolut, Monzo and B, showing screenshots of some of the best examples of improved customer experience in payments and card management. Download the report now to find out more.