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Pandemic Boosts Digital Payment Methods in the UK

Buy now pay later services are booming during the pandemic. Courtesy.

Research by American Express and YouGov found that 20 percent of British consumers found the pandemic made them “more open” to new forms of online payments. Trust in well-known brands providing the service and security were key elements driving consumer confidence.

The shift to e-commerce has upped adoption of new payment methods by driving retail sales over the last year. Buy now, pay later schemes have seen a boost during the pandemic as plans encourage customers to spend more despite economic circumstances.

The surge in online transactions has highlighted increased expectations from consumers with security being a key consideration. The findings show that 63 percent say they would consider new methods if it ensured a more secure payment process.

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