What’s Next for the UK Mobile Payment Market? Key Findings and Future Projections

According to the study by Next Move Strategy Consulting, the UK Mobile Payment Market size is predicted to reach USD 6.96 billion, with a CAGR of 22.3% by 2030.

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The ascent of fintech and the digital banking sector plays a pivotal role in propelling the UK mobile payment market expansion. Fintech breakthroughs and digital banking services offer streamlined and user-centric financial solutions that are easily accessible through mobile devices.

The transition towards cashless societies acts as a pivotal catalyst for expansion in the mobile payment industry in the country. As societies worldwide increasingly embrace digitalization and convenience, cashless payments have emerged as the preferred method for transactions.

Various market players operating in the UK mobile payment industry include Alphabet, Inc. (Google), Alibaba Group Holdings Limited, Amazon.com, Inc., Apple, Inc., PayPal Holdings, Inc., Visa, Inc., Tencent Holdings Limited (WeChat), MasterCard International, Inc., Samsung Electronics Co. Ltd., Block, Inc., and others.