Following this announcement, the study was based on a poll of 1.000 UK customers and 5.000 clients across the region of Europe, including Spain, Italy, Germany, and France, showing that 1 in 4 Brits (25%) with in-app wallets are leveraging them up to three times a week. This enabled them to become the UK’s second most popular payment methods, behind only debit cards and credit cards.
This comes as 87% of UK adults identify the overall cost of living as one of the most important issues that are facing the country. In addition, according to the official press release, in-app wallets are emerging as optimised financial tools, as over a quarter of users (26%) collect loyalty points or rewards, 44% earn money through digital platforms (rising to 67% of 16–24-year-olds), and 41% even prefer refunds paid directly into their wallets over their bank accounts.
The data comes from Mangopay’s newly released research report, entitled “Insights into In-App Wallets: What Platforms Must Know About User Behaviour and Expectations.” The product provides insights into the manner in which in-app wallets are optimising user experiences on platforms, underscoring the growing role of digital wallets not just as a payment tool but as a key driver of user retention, engagement, and platform growth.
The study reveals that the top factors influencing wider platform spending decisions include multiple competitive prices (45%), transparent pricing (35%), as well as return and refund policies (35%). At the same time, looking at younger shoppers, 44% of 16-24-year-olds are driven by the overall free shipping or exclusive deals, while 55% of 25-34-year-olds cite cashback incentives as their top motivator.
Furthermore, as clients across the region of Europe are united in the process of looking for value and transparency while shopping, other factors can influence purchasing decisioning and vary between countries. In Spain and Italy, faster refunds are currently the standout feature, with 46% and 43% respectively citing this as the most important factor when deciding to spend on a platform. In addition, in France, its competitive pricing (54%) drives the decision on where to shop, while 42% of clients value loyalty rewards. In the region of Germany, shoppers are currently most influenced by free shipping (51%), cashback (49%), and discounts on future purchases (40%).
Despite its development, in-app wallet usage still shows a clear generational divide in the region of the UK. While 40% of 16-24-year-olds are active users, this falls to 17% among 45–54-year-olds. The process of adoption is being held back by ongoing concerns around trust, with 46% of UK consumers saying privacy and data security issues discourage them from using digital wallets. This concern is especially high among older consumers (with 48% of over-55s, compared to 33% of 16–24-year-olds).
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