Despite the rise of instant digital payments around the world, new research from FICO reveals that UK consumers are trailing their European neighbours in the use of real-time payments (RTP). While a solid 79% of UK respondents reported having sent a real-time payment, this figure is still the lowest among the five EMEA countries surveyed. In comparison, a staggering 94% of Swedes and 83% of Germans have already embraced RTP.
“Our research suggests that consumers are very wary, given the high rate of authorised push payment fraud and the potential for losses,” commented FICO’s principal fraud consultant for EMEA, James Roche. “It’s imperative for banks to communicate risks and warnings to their customers while providing a strong scam defence.
What Is the Main Concern?
Security concerns appear to be at the heart of the UK’s slower adoption. Only 35% of UK consumers believe that RTP is more secure than using a credit card, significantly lower than the global average of 51%. This lack of confidence is not exclusive to the UK, but it is more pronounced. In the Netherlands, just 25% of people trust RTP’s security over credit cards; in Germany and Sweden, the figure stands at 28% and 29%, respectively. Spain leads Europe in this category, with 40% of consumers seeing RTP as the safer option.
Worryingly, nearly a quarter of Brits (23%) admit they’re unsure whether real-time payments involve sufficient security checks. One of the key reasons behind this could be the real-world impact of scams. According to UK Finance, fraud losses in the UK exceeded £450 million in 2024 alone — a sobering backdrop that could be driving consumer hesitancy.
As Roche points out, this data sends a clear message to UK financial institutions: boosting public trust in RTP security must be a top priority. While a majority of UK consumers have used real-time payments, closing the gap with the rest of Europe will require reassurance, transparency, and continued innovation in fraud prevention.