Dublin, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The "UK Cards and Payments - Opportunities and Risks to 2027" report has been added to ResearchAndMarkets.com's offering.
The United Kingdom (UK) Cards and Payments - Opportunities and Risks to 2027 report provides top-level market analysis, information and insights into the British cards and payments industry, including:
- Current and forecast values for each market in the British cards and payments industry, including debit, credit and charge cards.
- Detailed insights into payment instruments including cards, mobile wallets, credit transfer, cash, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
- Ecommerce market analysis.
- Analysis of various market drivers and regulations governing the British 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 of the British cards and payments industry.
Fintech companies and digital-only banks are entering the payment card space. In November 2022, Nigerian digital bank Kuda launched in the UK, offering services such as fund transfers, saving accounts, and physical and virtual payment cards. In January 2022, Klarna launched a Visa-branded credit card in the UK. Meanwhile, UK-based digital-only bank Monzo has been making significant inroads into the banking and payment space, with its customer base reaching over 8 million as of December 2023. The bank offers accounts for both individuals and businesses, including a Mastercard debit card.
Contactless payments are increasingly being rolled out for transport. In September 2023, UK-based payment company Unicard announced a partnership with Transport for Wales, which will enable commuters to pay for public transport using contactless payment cards and mobile wallets. The initial pilot test is taking place for trains running between cities including Newport and Cardiff, with a full commercial launch expected during 2024. Meanwhile, according to the UK government, over 50 rail stations across Southeast England will be installed with contactless payment systems by the end of 2023.
In the UK, switching current accounts is backed by a guarantee promising customers a clear and consistent level of service. Over 52 UK banks and building societies are signed up to the Current Account Switch Service. According to Pay.UK, 986,956 switches took place in 2022. Overall, the Current Account Switch Service had completed 8.8 million switches since its launch in 2013.
Key Topics Covered:
- Market Overview
- Payment Instruments
- Card-Based Payments
- Merchant Acquiring
- Ecommerce Payments
- In-Store Payments
- Buy Now Pay Later
- Mobile Payments
- P2P Payments
- Bill Payments
- Alternative Payments
- Payment Innovations
- Job Analysis
- Payment Infrastructure and Regulation
Company Coverage:
- Lloyds Banking Group
- NatWest Group
- Barclays
- HSBC
- Santander
- Nationwide Building Society
- Banco Sabadell
- Capital One
- Vanquis Bank
- Virgin Money
- The Co-operative Bank
- American Express
- Diners Club
- Visa
- American Express
For more information about this report visit https://www.researchandmarkets.com/r/s5u2fk
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