UK Mobile Payments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

UK Mobile Payments Industry Overview

The United Kingdom mobile payments market is moderately fragmented, with many players. The market is highly competitive since payments through mobile and connected devices are gaining popularity fast. The brands are highlighting the compatibility of their products with wearables and utilizing technologies like NFC to stress ease of use. Companies collaborate with other vendors and e-commerce platforms to boost favorability in the competitive market space.

• February 2022 - Soldo, a European payment automation platform, enabled payment through Google Pay through its physical or online version of cards with the app. The newly added "Add to G Pay" option in the Soldo App would allow the users to add the Soldo Card to Google Pay. The company has initially added a new option for UK and Italy customers.
• October 2021 - PayPal Holdings Inc. launched Zettle Terminal, a mobile device to facilitate contactless payments using cards or mobile phones with Tap-to-Pay technology. The device is designed specifically for small businesses to minimize point of sale (POS). The device is a sleek touchscreen with an in-built SIM card featuring Wi-Fi connectivity and retailing for GBP 149. The mobile device can be combined with a compact printing dock, costing GBP 89. Small businesses can buy the combined bundle of the two for GBP 199.