A survey conducted by FICO indicates that consumers in the United Kingdom lag behind other European markets in the adoption and perceived security of real-time payments (RTP).
The international survey sampled 12,000 individuals across 14 countries, with specific findings highlighting UK trends relative to other EMEA nations. In the UK, 79% of consumers reported having made an RTP, compared with higher figures in other countries such as Sweden at 94% and Germany at 83%.
Concerns over security appear to influence RTP adoption rates. According to the survey, just 35% of UK consumers consider RTP to be more secure than using a credit card. This is significantly below the global average of 51%. In other European markets, the sentiment varies: 25% of Dutch consumers, 28% of Germans, 29% of Swedes, and 40% of Spanish respondents viewed RTP as more secure than paying with a credit card.
"This highlights the need for UK banks to focus on building confidence in the security of the payment method. Nearly a quarter of Brits (23%) say they do not know if RTP processes include enough security checks," James Roche, Principal Fraud Consultant for FICO in EMEA, commented on the findings.
Recent figures underlining the scale of the issue show that, according to UK Finance, scam losses from authorised push payment fraud exceeded GBP £450 million in 2024. Awareness of such losses may be influencing UK consumers' perception of RTP security and slowing their willingness to adopt the payment method more broadly.
"Our research suggests that consumers are very wary, given the high rate of authorised push payment fraud and the potential for losses. It's imperative for banks to communicate risks and warnings to their customers while providing a strong scam defence," commented Roche.
Roche further emphasised the measures banks should take to address these concerns. "Banks that use scam protection technology will put themselves and their customers in the best position to protect their finances," Roche added. "Additionally, they need to be flexible and customer-focused in their use of communication channels. As RTP usage continues to grow, consumers will expect their banks to equip them with the tools, education, and automated fail-safes to help prevent scam losses."
Across the surveyed countries, the varying levels of RTP trust point to regional differences in consumer behaviour and expectations regarding payment methods. In the Netherlands, for example, just one-quarter of consumers responded that they viewed RTP as safer than using a credit card, making it the most sceptical group surveyed in Europe. By contrast, Spain reported the highest confidence after the UK, at 40%.
The report highlights that UK banks face a particular challenge both in promoting RTP adoption and in reinforcing the security of these payments for consumers. The survey results suggest that nearly a quarter of UK consumers are uncertain about the strength of security checks in RTP processes, underlining the importance of transparent and proactive communication from financial institutions.
Looking ahead, as real-time payment options become more prevalent and consumer expectations for immediate transactions increase, the ability of banks to foster confidence through education, customer support, and robust defences against scams is likely to play a central role in the expansion of RTP in the UK and across Europe.
