UK Consumers and Payment Innovation Market: Rapid Developments in Financial Technology Expected to Boost Growth

Published on : May 14, 2018

Albany, New York, May 14, 2018: With the growing influence of digital economy, application of technological innovations is spearheading the use of digital payment platforms, to achieve hassle-free payment process. Mobile recharge market, powered by API is believed to have contributed largely towards growth of UK consumers and payment innovation market. A new report titled ‘Consumers and Payment Innovation - UK - May 2018’ has been included in the database of the Market Research Hub (MRH) that provides major insights on the impact of recent market trends and developments in the global market.

Snapshot of Consumers and Payment Innovation

Proliferation of technology in everyday life, has intensified digital transformation. Digitization of global economy, to attain streamlined connection between organizations, businesses, individuals and devices has influenced payment innovation significantly. Financial institutions, retailers and businesses are constantly enhancing their payment platforms to meet the expectations of end user.

Technological advancement such as RFID (Radio Frequency Identification) technology NFC (Near Frequency Communication) have introduced new payment options such as Contactless payment to the consumers. By upgrading their payment platforms, businesses aspire to enhance customer experience and ensure durability in the market. With omnichannel platforms, consumers tend to expect faster and more secured transaction process. This transformed consumer expectations have driven institutions to incorporate latest technology such as Digital Credential, Biometrics, Identification Awareness, and Invisible payments to ensure better customer response.

Segmentation of Consumers and Payment Innovation Market

Significant information encapsulated in the report provides vital insights on the impact of growth of the market. These key points accumulated in the report enables the readers to gain significant factors that drive the growth of the market. 

Key Players Identified in Consumers and Payment Innovation Market

Significant information detailed in the report provides substantial perspectives on various techniques adopted by major companies and how these are influencing customer’s choices. On the basis of the facts offered in the report, leading organizations and new entrants in the market can formulate effective strategy to device vital investment decisions. Leading companies operating in the market Gocardless, Paysafe Group, RBK Money, SumUp, Transferwise, Heliopay, Kayswallet, and Paybox, amongst others.

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