The Cards and Payments Industry in the UK: Emerging Trends and Opportunities to 2021
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GlobalData’s 'The Cards and Payments Industry in the UK: Emerging Trends and Opportunities to 2021' report provides detailed analysis of market trends in the UK's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debits, check payments, payment cards and cash transactions during the review period (2012–2016).
The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2017–2021). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.
GlobalData’s 'The Cards and Payments Industry in the UK: Emerging Trends and Opportunities to 2021' report provides top-level market analysis, information and insights into the UK's cards and payments industry, including:
– Current and forecast values for each market in the UK's cards and payments industry, including debit, credit and charge cards.
– Detailed insights into payment instruments including credit transfers, direct debits, cash transactions, checks and payment cards. It also, includes an overview of the country's key alternative payment instruments.
– E-commerce market analysis and payment methods.
– Analysis of various market drivers and regulations governing the UK's cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
– Comprehensive analysis of consumer attitudes and buying preferences for cards.
– The competitive landscape in the UK's cards and payments industry.
Scope
– This report provides a comprehensive analysis of the UK's cards and payments industry.
– It provides current values for the UK's cards and payments industry for 2016, and forecast figures to 2021.
– It details the different demographic, economic, infrastructural and business drivers affecting the UK's cards and payments industry.
– It outlines the current regulatory framework in the industry.
– It details marketing strategies used by various banks and other institutions.
Key Highlights
– The UK’s vote to leave the EU is likely to impact the payments industry in the medium- to long-term. There will be no immediate effect on payments policy and regulation – current payments regulation deriving from the EU will remain until any changes are agreed by the UK and the EU, or until Article 50 is invoked, after which there is a two-year deadline for the UK’s position to be renegotiated. Brexit may also have an impact on payment-processing businesses. It is still too early to know if the UK will be treated as an offshore location for European card and payment processing. The impact on some of the biggest companies in the payments industry, including Visa and Mastercard, could be significant and new payment processors arriving in Europe from the US or Asia will, potentially, be much less likely to locate in the UK.
– Competition in the UK alternative payments market increased following the launch of Apple Pay and Android Pay. Banks and payment service providers are launching new solutions in order to keep up with the international smartphone manufacturers. Sweden-based mobile m-payment solution provider Seamless introduced its mobile app, Seqr, in association with GoCardless in October 2016. Similarly, Tesco Bank launched its QR code m-payment solution, PayQwiq, in November 2016. The anticipated launch of Samsung Pay in the first half of 2017 is likely to increase competition.
– The UK payment cards market has recorded a strong uptake in contactless technology. The number of contactless transactions rose by 194.2% annually in August 2016. Contactless transactions grew due to the rise in the spending limit from GBP20 (US$31.50) to GBP30 (US$47.90), and the popularity of mobile and wearable near-field communication (NFC) payments. A key driver of contactless payment has been the use of contactless cards in London’s public transport system and to date more than 500 million journeys have been made using contactless payment cards on London's transport network. In January 2016, the UK’s five main bus operators – Stagecoach, First Bus, Go-Ahead, Arriva, and National Express – announced plans to provide contactless facilities on every bus by 2022, and are in the process of developing their own contactless ticketing solutions. The rail industry has also indicated plans to support contactless payments by 2025.
Reasons to Buy
– Make strategic business decisions, using top-level historic and forecast market data, related to the UK's cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the UK's cards and payments industry.
– Assess the competitive dynamics in the UK's cards and payments industry.
– Gain insights into marketing strategies used for various card types in the UK.
– Gain insights into key regulations governing the UK's cards and payments industry.
Barclays Bank
HSBC
The Royal Bank of Scotland
Santander UK
Tesco Bank
American Express
Visa
Mastercard
WorldPay
Global Payments
Cardnet
Barclaycard
Elavon
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Frequently asked questions
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