The payments landscape: Today and the future

Published · 1 min read

When you’re running a business, it can be tricky to keep up to with the latest payment technologies in rapidly evolving market.

That’s why we’ve created our annual Payments Landscape report, a study of payments in the UK.

Now in its fifth year, the report provides an insightful portrait into the industry. Having surveyed 1,000 business decision makers and 1,000 UK shoppers, the result is a clear picture of what’s happening in the industry, from on and offline trends, to emerging innovations, new technology and the rise and fall of consumer preferences.

This year the report has found that UK consumers and businesses are poles apart in their opinions of adopting new and innovative payments technologies. Despite consumer appetite for new and innovative ways to pay, underscored by the wide-spread adoption of contactless card payments, businesses are demonstrating an alarming reluctance to invest which could leave them stuck in the slow lane.

The report also provides insight, comment and analysis on the differing attitudes of business and consumers alike to a range of hot topics and trends in the payments industry, such as:

  • Why 2015 will be a pivotal year for payments, with cashless payments set to overtake cash
  • How the cost of cash to the UK is nearly £18bn annually, or £3,520 per SMB
  • Despite the rise of mobile payments, only 5% of consumers are looking to adopt Apple Pay
  • More than 1 in 4 consumers are likely to shop somewhere with a greater range of, or more innovative, payments methods

The report contains everything you’ll need to know for the upcoming year and beyond.

Subscribe to the Sage Advice enewsletter

Get a roundup of our best business advice in your inbox every month.

Leave a response