In partnership with Propeller Insights, Marqeta conducted a survey of over 4,000 consumers across three continents, including more than 1,000 UK respondents, to get a sense of current purchase preferences and how consumers want to pay, bank, and shop. The survey shows how contactless payments are becoming increasingly prevalent in the UK.
- 96% of UK consumers surveyed have used contactless payments in the last year
- 61% of consumers surveyed feel confident enough with contactless payments to leave their physical wallets at home
- 77% of Gen Z respondents are ditching physical wallets to pay by mobile
UK consumers, especially Gen Z, are heavily reliant on mobile wallets
The report details how the vast majority of UK consumers surveyed have used contactless payments in the last year, a number accelerated by the shift to digital and mobile payments throughout the pandemic and driven by the Gen Z population. UK consumers are so reliant on their mobile wallets, a significant portion of them can’t even remember their PIN anymore.
There’s a strong appetite for cryptocurrency innovation in the UK
According to the survey, UK consumers are open to new innovations in cryptocurrency as a payment method, with more than a quarter of respondents saying they now own cryptocurrency. This opens the door for payment providers to invest in cryptocurrency solutions that enable cryptocurrency spending at the point of sale.
Consumer purchase preferences continue to evolve as we settle into a post-pandemic normal
Beyond the point of sale, consumer preferences are evolving rapidly as people adjust to a post-pandemic normal that blends old and new purchase behaviors. This report outlines the new modes of payment that are defining the future of global consumer money movement.