A Verisk Business
Verisk Financial Research Logo
Sign In
 
 /  Country Reports  /  Europe  /  United Kingdom

United Kingdom Country Report

Already purchased?
  • Published Date: December 2019

A comprehensive overview of the cards, payments and consumer banking market in the United Kingdom.

What you will learn from this UK payments research report:

  • The role of contactless in reshaping UK card payments
  • What moves are being made by incumbents and challengers
  • The preferences shaping UK credit/debit cardholding patterns
  • How the global schemes have been pre-empting disintermediation
  • Why there remains significant potential in the UK payments space

UK CARDS & PAYMENTS REPORT | KEY FACTS

  • Thanks to progressive regulation and consumer adoption of modern technology, the United Kingdom has become one of the world's most advanced and competitive payments markets.
  • Britain is gradually moving to a cash-lite economy. The number of UK debit card purchase transactions surpassed the number of cash purchases for the first time in 2017.
  • This has been enabled by an ever-extending acceptance infrastructure: 4,935 POS terminals per 100,000 adults at the end of 2018, versus 3,132 the year before. In addition, more than half of UK card-present transactions are now contactless.
  • E-commerce has significantly contributed to more usage of payment cards: debit cards were the leading payment method for online transactions during 2019.
  • The UK credit cards market is highly competitive, as shown by the long interest-free periods offered for balance transfers.
  • Mastercard is gaining share in the debit cards market through winning issuer portfolios and supporting the growing challenger bank industry.
  • Lloyds, having acquired MBNA in 2017, is now the leading issuer for both credit and debit cards.
  • New regulations aim to reduce the number of consumers with problematic credit card indebtedness. UK regulators are currently concluding a review of the merchant acquiring industry, with a view to optimising outcomes for both merchants and consumers.

UK Payments Research | Report Contents

Key Topics
Demographics and the economy
Payments environment
Cards market
Mobile payments
Profit pool
The networks
Key retail banks and issuers
Acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendices: UK Cards Payment Data

Appendix I: Demographics and the economy

  • Demographic and economic indicators
  • Ownership of key consumer devices
  • Internet usage by population

Appendix II: Payments environment

  • Access points
  • Account penetration
  • Consumer payment trends
  • B2C e-commerce payment methods

Appendix III: Cards market

  • Total cards payment metrics
  • Contactless cards metrics
  • Credit card data numbers
  • Total credit cards metrics
  • Credit cards profitability indicators
  • Debit cards numbers
  • Debit cards metrics
  • Prepaid/e-money cards metrics

Appendix IV: Mobile payments

  • Mobile proximity payment metrics
  • Mobile P2P payments

Appendix V: Profit pool

  • Profit pool

Appendix VI: The card networks

  • Networks' credit card market shares
  • Networks' credit card numbers
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value
  • Credit card interchange fees by network
  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value
  • Debit card interchange fees by network

Appendix VII: Key retail banks and issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card issuers market shares by debit card numbers

Appendix VIII: UK acquirers and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer/issuing processor relationships
  • Credit card acquirer/acquiring processor relationships
  • Credit card issuing processor market shares by card numbers
  • Credit card acquiring processor market shares by the number of POS transactions

Appendix IX: Online acquiring

  • Online merchant acquirer market share

UK Payments Report | Entities Referenced

Abbey National - Account information service providers- Advent International - Adyen - Aer Lingus - Alipay - Alliance & Leicester - Allied Irish Banks - Amazon - American Express - Android Pay - Apple - Apple Pay - Aqua Card - Argos - Asda - Atom Bank - Aviva - AXA - Bacs - Bain Capital - Bank of America - Bank of England - Bank of Ireland - Bank of Japan - Bank of Scotland - Barclaycard - Barclays - BNP Paribas Personal Finance UK - Bó - Bradford & Bingley - Braintree - British Court of Appeal - Capital One - Cardnet - Cardstream - Cheque and Credit Clearing Company - CMA - Competition and Markets Authority - Co-operative Bank - Coutts - Cult Pens - CyberSource - Danske Bank - DataCash - Diners Club - Discover - eBay - Elevon Merchant Services - European Central Bank - European Union - Exela Technologies - Facebook - Faster Payments Service - FCA - Fidelity National Information - Financial Conduct Authority - Financial Policy Committee - First Data - First Direct - FIS - Fiserv - FPS - Funky Pigeon - GDPR - General Data Protection Regulation - Global Payments - Google - Google Pay - Halifax - Hays Travel - HBOS - Hibu - HMV - HSBC - Ingenico - Intuit - iZettle - John Lewis Finance - JustGiving - KLM - Lex Autolease - LINK - Lloyds Bank - Lloyds Banking Group - Lufthansa - M&S Bank - Mastercard - MBNA - Metro Bank - Mobile Payments Service Company - Monzo - N26 - Nationwide - NatWest - NatWest Tyl - Netflix - New Payments Architecture - NewDay - Next - O2 - Oak Furnitureland - Open Banking - Oyster - Paddy Power - Pay by Bank app - Pay with Bank transfer - Pay.UK - Paym - Payment Systems Regulator - Payments UK – PayPal - PbBa - Pingit - PISPs - Play.com - PRA - Prudential Regulation Authority - PSD2 - PSR - RBS - Realex Payments - Request to Pay - Revised Payment Services Directive - Revolut - Richer Sounds - Royal Lancaster London - Sage Pay - Sainsbury's Bank - Samsung Pay - Santander - SCA - Scottish Widows - Secure Trading - Shop Direct - Special Resolution Unit - Spotify - Starling Bank - Stripe - Strong Customer Authentication - SumUp - Tesco Bank - TfL - Thai Airways - The Card Gallery - The Post Office - TransferWise - Transport for London - TSB - TSYS - Twitter - Uber - UK Payments Administration - Ulster Bank - UnionPay - Universal Credit - Universal Trust Service Provider - US Federal Reserve - UTSP - Vanquis Bank - Vantiv - Virgin Atlantic - Visa - Visa Europe - Vocalink - Vodafone - WHSmith - Worldpay - Yorkshire Bank

MORE EUROPE CARDS & PAYMENTS REPORTS

Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Europe. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and Europe finance experts.

See more European country reports or explore cards & payments research reports for 72 markets worldwide.

To find out more or to discuss subscription options, please email: research_enquiries@verisk.com or telephone: +44(0)20 7337 4200.