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UK Cards and Payments Market Share and Growth Forecast to 2022

Posted on May 21, 2018

No Preview "UK Cards And Payments Market - By Cards (Debit Cards, Credit Cards, Prepaid Cards), By Payment Terminals (POS And ATM's), By Payment Instruments (Credit Transfers, Direct Debit, Cheques And Payment Cards) - Transaction Value, Volumes, Historical Trends, Analysis And Forecasts (2017 -2021)"

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.
 
Mobile payments inhibit the cards and payments industry in the UK
 
The banking industry in the United Kingdom is undergoing a rapid shift from regular branch services to digital services in the recent times. According to British Banker’s Association, the mobile payments accounted around 340 million in 2015, which is a 55% increase compared to 120 million in 2014. Likewise, the internet payments have witnessed tremendous growth in the same year.
 
Debit cards dominate the payment card market in the UK
 
The number of debit cards is estimated to cross 104 million by 2021 from the current value close to 100 million. Many basic bank accounts were opened in the previous years with the aid of prominent banks like Barclays, Lloyds Banking Group, Nationwide, Royal Bank of Scotland, Clydesdale and Yorkshire Bank, Co-operative Bank, HSBC, TSB, and Santander, offering a free charge accounts.
 
 
Prepaid Cards Market is growing steadily
 
The UK prepaid market is growing steadily and estimated to cross GBP 40 billion by 2020 with a compound annual growth rate more than 5%. The main factors driving the market are the incorporation of these cards by both the government and corporate organizations.
 
Gift card market is predicted to grow rapidly by 2020 as they are used in many business organizations to reward their employees. The UK government also encourages the use of prepaid cards to distribute pensions, child benefits, job seekers’ allowances and so on.
 
Visa and MasterCard focus on contactless technology in the UK
 
Card providers like Visa and MasterCard are also concentrating more on the technology of contactless card payments. Visa, however, is also extending this technology to the mobile devices and wearables. On the other hand, MasterCard is completely focusing on the contactless debit cards to enhance its market presence. Retailers in the UK are gradually shifting to contactless POS terminals. According to the United Kingdom Cards Association, as of February 2017, there were more than 478,000 bank-owned contactless POS terminals in the market. The growth rate was comparatively higher than the earlier year by around 44% and predicted to occupy entire POS terminals market in the UK by 2020.
 
Moreover, the investments in the card setup and the increasing adoption of contactless payments are expected to propel the card payments market in the US amid tough competition. Some of the dominating companies in the market: Lloyds Bank, HSBC, Royal Bank of Scotland, Halifax, Ulster Bank, Barclays, First Direct, Santander UK, Bank of Scotland, M & S Bank
 
 
The Scope of the Report:
 
• The functioning of the UK cards and payments market and complete analysis of the market drivers
• It provides conventional and contemporary information about payment cards of the UK and market predictions till 2022
• It details the emerging payment solutions and their economic, regional and business impact on the cards and payments industry of UK
• Detailed information about existing market leaders, their strategies and government policies driving the payment cards market
 
Key Questions Answered by the Report:
 
• What is the adoption rate of UK Cards and Payments market and different types of cards in circulation?
• Who are the leading card issuers, scheme providers, and third-party providers influencing the US payment cards market?
• What are the growth opportunities provided by the alternative payment options in the UK market?
 
• How are the emerging technologies and new product launches affecting the local cards and payments market of the country?
 
Reasons to Purchase the Report:
 
• Enhance the decision-making with the comprehensive information about trends, conventional statistics, and forecast for next five years
• Understand the competitive landscape in the UK cards and payments industry and their marketing strategies
• Unfold hidden growth opportunities with the use of data about emerging transitions in the market and customer transactional behaviors
• Broaden the insight about regulatory policies and frameworks that impact UK cards and payments market
 
Inquire before buying @ https://www.marketdataforecast.com/market-reports/UK-Cards-and-Payments-Market-6847/inquire
 
About Market Data Forecast:
 
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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Data Forecast Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Mail: abhishek@marketdataforecast.com



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