UK: GBP 1 bln a day via mobile and online payments

Friday 11 July 2014 10:34 CET | News

UK consumers are now spending nearly GBP 1 billion a day using mobile and online payment methods, recent findings indicate.

Millions of British customers are now using contactless cards, payment by mobile and SMS balance alerts, according to the second “The Way We Bank Now” report by the British Bankers Association (BBA) and accounting firm EY, with more than 15,000 people downloading banking apps every day.

Overall, internet and mobile banking transactions were worth GBP 6.4 billion a week, the report found, up from GBP 5.8 billion last year. There were over 14.7 million downloads of mobile and tablet banking apps every week, with internet banking services receiving seven million log-ins per day.

The report also forecast spending on contactless cards would rise to GBP 6.1 million a week in 2014, up from GBP 3.2 million in 2013 as more banks offer the technology to customers.

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Keywords: UK, mobile payments, online payments, contactless cards, payments
Categories: Payments & Commerce
Countries: World
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