New research by Forrester has reviewed the UK retail landscape to reveal a low but growing trend for deferred payment services among UK retailers and their customers.
According to the report ‘The State Of Alternative Payments Acceptance In UK’, during 2020, customer use of deferred payment services doubled, and half of all retailers now offer this option with Klarna leading as the most popular vendor.
74% of UK online adults used a digital payment in the past three months to make a purchase Accepted by 80% of UK retailers, PayPal remains the most widely adopted alternative payment method. More than half of UK online adults have paid via PayPal in the last three months.
Young consumers are driving the trend. More than half of under-35’s have heard of Klarna and 10 percent have used it to make a purchase, compared to just over one-third of over-35’s that are aware and just 4 percent that have used it. A similar trend revealed that 26 percent of under-35’s have used Apple Pay for recent retail purchases, compared to only 7 percent of adults over the age of 35.
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