Summary
Faster Payments and mobile banking remained popular in the UK in 2021, with 86% of all UK adults using at least one form of remote banking last year. This includes online banking via a computer, mobile banking via an app on a smartphone or tablet, and customers calling their bank via a telephone banking service.
The majority of people within all age groups used remote banking at some point during 2021, ranging from 72% of people aged 65-and-over to 92% of those aged 35-44. The number using mobile banking, in particular, continued to grow, reaching 57% of all UK adults.
There was a slight fall in the proportion of UK adults using online banking via a computer, as more people transitioned to using mobile banking only. However, nearly two-thirds of UK adults (65%) made use of online banking in 2021.
In a development closely related to the ongoing popularity of remote banking services in the UK, the number of remote banking payments processed via the Faster Payments Service (or cleared in-house by banks) during 2021 continued to grow strongly.
The total number of payments increased by 23% compared with the previous year, to reach 3.6 billion. Business use of remote banking also contributed to strong growth in Faster Payments volumes.
Over the course of 2021, 39% of all payments made by businesses were made via Faster Payments and other remote banking channels, overtaking BACS Direct Credit for the first time as the most-used payment method among businesses.
Link: https://www.paymentscardsandmobile.com/faster-payments-and-mobile-banking-continue-stellar-growth/