Report Overview :
MarketDataForecast’s 'UK Cards and Payments Market’ report provides the insight into various payment cards market trends and growth opportunities in the UK along with the complete information about different types cards in the market. It also offers an epitomized assessment about the competitors in the market, influential marketing strategies, customer purchase patterns, adopted payment methods in the e-commerce industry and significant government regulations associated with the UK cards and payments market. Our report unfolds many existing opportunities with reliable information about the different types of cash transactions, volumes of cardholders, market share, current accounts, growth in the number of cards, credit cards outstanding balances, transactional values, details of the issuers along with available banking schemes and futuristic analysis of overall cards and payment market in the UK.
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Highlights of the report:
A deep insight into the total number of cards in circulation, the total number of transactions, average transactional values and other areas involving the use of payment cards. Most common application areas of both debit card and credit card.
Increased card-based payments from the start of 2016 across the public transport modes like taxis, where approximately 23000 taxis started accepting the contactless cards and other kinds of payment cards. The contactless cards transactional volume has increased from GBP 8 billion in 2015 to around GBP 25 billion in 2016.
No charge basic accounts are being provided to the people by many banks with the drawn agreements between the UK government and banking sector. As of January 1, 2018, more than 4 million bank accounts were opened free of charge and the majority portion of that was accounted by two major banks, Lloyds and Nationwide.
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Many top-notch banking institutes are providing the contactless cards to customers and some digital banks are collaborating with card providers to fight in the market. Due to these factors, the transactions from contactless cards has exceeded 3 billion and the card payments crossed over GBP 40 as of January 2018.
Gaining popularity of prepaid cards among the low-value expense group and the adolescents. Including the gift and travel cards, there are many providers that offer the services of loading cards. For instance, travel money card by Post Office is very helpful to people as it allows to load from GBP 50 to GBP 5000 and available in more than 12 currencies.
The growth of POS terminal installations that supports the contactless card payments aimed to cover entire market by 2020. According to UK Cards Association, the bank permitted POS terminals accounted close to 4,80,000 in January 2018, which is more than 43% increase compared to the previous year.
Major Key Players Involved In The Report
Royal Bank of Scotland
Bank of Scotland
M & S Bank
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Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. A few key business areas that we handle with excellence include business process improvement, corporate financing and decision making based on market research, assisting in developing appropriate strategy and providing consultancy based on extensive research.
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