Press release
UK Contactless Payment Market Size, Growth and Forecast To 2025
UK contactless payment market is anticipated to grow at a CAGR 15.0% during the forecast period. UK contactless payment market has held the major market share due to high adoption and awareness. Due to modernization trend, adoption is also growing in UK at a high rate. UK is leading the market with the value of $460 million in 2018 and is estimated to reach about $1.2billion till 2025. UK is one of those countries which is rapidly transforming from conventional to contactless payment methods and digital technology is emerging as one of the supporting pillars for rapid transformation of financial services.Request a Free Sample of Our Report on UK Contactless Payment Market: https://www.omrglobal.com/request-sample/uk-contactless-payment-market
According to UK Finance department, 7 out of every 10 account holders use online banking. Cash payments are continuously decreasing with the evolution of advanced technology in the financial sector. Approximately 62% of the total payments in 2006 were made through cash which has reduced to 40% in the year 2016 and in 2026, the number is estimated to decrease to 21%. With the increasing digital payments, financial institutions are trying to enhance security and handling of payment operations with the support of advanced technology.
A Full Report of UK Contactless Payment Market is Available at: https://www.omrglobal.com/industry-reports/uk-contactless-payment-market
Cashless payments are being made safer with the use of NFC technology. NFC technology-based payment cards are being integrated into shopping stores, product and service outlets, BFSI institutions, and others. The cashless mobile payments are being facilitated by using apps installed in smartphones. Currently available cashless mobile payment platforms in the UK include Amex Pay, Apple Pay, Barclays Contactless Mobile, Google Pay, and Samsung Pay.
Secondary Sources Include
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
Market Segmentation
UK Contactless Payment Market by Device
Smartphones
Smart Cards
Point of Sale Terminals
Other
UK Contactless Payment Market by End-User
Retail
BFSI
Transportation
Others
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/uk-contactless-payment-market
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Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +1 646-755-7667, +91 780-304-0404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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