Financial Cards and Payments in the United Kingdom

After the decline seen in consumer payment transactions in both current value and volume terms in 2020, a return to growth is expected in 2021. However, the payments landscape continued to be impacted by the disruption caused by the global COVID-19 pandemic in the first half of the year. The government imposed a full national lockdown in the UK on 2 Jan 2021, and although restrictions started to be gradually lifted from early March, they were not fully lifted until July.

The publisher's Financial Cards and Payments in United Kingdom report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Financial Cards in Circulation, M-Commerce, Transactions.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

Get a detailed picture of the Financial Cards and Payments market;
Pinpoint growth sectors and identify factors driving change;
Understand the competitive environment, the market’s major players and leading brands;
Use five-year forecasts to assess how the market is predicted to develop.

EXECUTIVE SUMMARY

Financial cards and payments in 2021: The big picture
2021 key trends – boom in BNPL and contactless limit increase
Brexit changes the financial regulatory landscape and cross-border payment fees
Supporting digitalisation is at the forefront of financial institutions
Competitive environment
What next for financial cards and payments?

MARKET INDICATORS

MARKET DATA

Table 1 Financial Cards by Category: Number of Cards in Circulation 2016-2021
Table 2 Financial Cards by Category: Number of Accounts 2016-2021
Table 3 Financial Cards Transactions by Category: Value 2016-2021
Table 4 Financial Cards by Category: Number of Transactions 2016-2021
Table 5 Consumer Payments by Category: Value 2016-2021
Table 6 Consumer Payments by Category: Number of Transactions 2016-2021
Table 7 M-Commerce by Category: Value 2016-2021
Table 8 M-Commerce by Category: % Value Growth 2016-2021
Table 9 Financial Cards: Number of Cards by Issuer 2016-2020
Table 10 Financial Cards: Number of Cards by Operator 2016-2020
Table 11 Financial Cards: Card Payment Transactions Value by Operator 2016-2020
Table 12 Financial Cards: Card Payment Transactions Value by Issuer 2016-2020
Table 13 Forecast Financial Cards by Category: Number of Cards in Circulation 2021-2026
Table 14 Forecast Financial Cards by Category: Number of Accounts 2021-2026
Table 15 Forecast Financial Cards Transactions by Category: Value 2021-2026
Table 16 Forecast Financial Cards by Category: Number of Transactions 2021-2026
Table 17 Forecast Consumer Payments by Category: Value 2021-2026
Table 18 Forecast Consumer Payments by Category: Number of Transactions 2021-2026
Table 19 Forecast M-Commerce by Category: Value 2021-2026
Table 20 Forecast M-Commerce by Category: % Value Growth 2021-2026

DISCLAIMER

SOURCES

Summary 1 Research Sources

DEBIT CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS

2021 DEVELOPMENTS

Debit card is the leading payment method, contactless limit increases again
Competition between operators increases, with Mastercard gaining share
Commercial debit cards starts to recover despite disruption to business operations

PROSPECTS AND OPPORTUNITIES

Fintech players and digital wallet use to boost debit card payments
Business debit cards to grow significantly over the forecast period
Investing in the acceleration of digital transformation will be at the forefront for banks

CATEGORY DATA

Table 21 Debit Cards: Number of Cards in Circulation 2016-2021
Table 22 Debit Cards Transactions 2016-2021
Table 23 Debit Cards in Circulation: % Growth 2016-2021
Table 24 Debit Cards Transactions: % Growth 2016-2021
Table 25 Debit Cards: Number of Cards by Issuer 2016-2020
Table 26 Debit Cards: Number of Cards by Operator 2016-2020
Table 27 Debit Cards Payment Transaction Value by Issuer 2016-2020
Table 28 Debit Cards Payment Transaction Value by Operator 2016-2020
Table 29 Forecast Debit Cards: Number of Cards in Circulation 2021-2026
Table 30 Forecast Debit Cards Transactions 2021-2026
Table 31 Forecast Debit Cards in Circulation: % Growth 2021-2026
Table 32 Forecast Debit Cards Transactions: % Growth 2021-2026

CREDIT CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS

2021 DEVELOPMENTS

Consumers are still hesitant to use credit, and continue to pay back debt
Online shopping boom and alternative payment models challenge credit payments
New co-branded Amazon commercial credit cards are now available

PROSPECTS AND OPPORTUNITIES

Reward schemes to be improved as it is more difficult to access traditional credit
Traditional banks to rethink their credit offers due to the booming demand for BNPL
Digital wallet payments to support the recovery of credit payments

CATEGORY DATA

Table 33 Credit Cards: Number of Cards in Circulation 2016-2021
Table 34 Credit Cards Transactions 2016-2021
Table 35 Credit Cards in Circulation: % Growth 2016-2021
Table 36 Credit Cards Transactions: % Growth 2016-2021
Table 37 Commercial Credit Cards: Number of Cards in Circulation 2016-2021
Table 38 Commercial Credit Cards Transactions 2016-2021
Table 39 Commercial Credit Cards in Circulation: % Growth 2016-2021
Table 40 Commercial Credit Cards Transactions: % Growth 2016-2021
Table 41 Personal Credit Cards: Number of Cards in Circulation 2016-2021
Table 42 Personal Credit Cards Transactions 2016-2021
Table 43 Personal Credit Cards in Circulation: % Growth 2016-2021
Table 44 Personal Credit Cards Transactions: % Growth 2016-2021
Table 45 Credit Cards: Number of Cards by Issuer 2016-2020
Table 46 Credit Cards: Number of Cards by Operator 2016-2020
Table 47 Credit Cards Payment Transaction Value by Issuer 2016-2020
Table 48 Credit Cards Payment Transaction Value by Operator 2016-2020
Table 49 Commercial Credit Cards: Number of Cards by Issuer 2016-2020
Table 50 Commercial Credit Cards: Number of Cards by Operator 2016-2020
Table 51 Commercial Credit Cards Payment Transaction Value by Issuer 2016-2020
Table 52 Commercial Credit Cards Payment Transaction Value by Operator 2016-2020
Table 53 Personal Credit Cards: Number of Cards by Issuer 2016-2020
Table 54 Personal Credit Cards: Number of Cards by Operator 2016-2020
Table 55 Personal Credit Cards Payment Transaction Value by Issuer 2016-2020
Table 56 Personal Credit Cards Payment Transaction Value by Operator 2016-2020
Table 57 Forecast Credit Cards: Number of Cards in Circulation 2021-2026
Table 58 Forecast Credit Cards Transactions 2021-2026
Table 59 Forecast Credit Cards in Circulation: % Growth 2021-2026
Table 60 Forecast Credit Cards Transactions: % Growth 2021-2026
Table 61 Forecast Commercial Credit Cards: Number of Cards in Circulation 2021-2026
Table 62 Forecast Commercial Credit Cards Transactions 2021-2026
Table 63 Forecast Commercial Credit Cards in Circulation: % Growth 2021-2026
Table 64 Forecast Commercial Credit Cards Transactions: % Growth 2021-2026
Table 65 Forecast Personal Credit Cards: Number of Cards in Circulation 2021-2026
Table 66 Forecast Personal Credit Cards Transactions 2021-2026
Table 67 Forecast Personal Credit Cards in Circulation: % Growth 2021-2026
Table 68 Forecast Personal Credit Cards Transactions: % Growth 2021-2026

CHARGE CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS

2021 DEVELOPMENTS

Mature charge cards category continues to decline due to COVID-19 disruption
Emergence of new, attractive credit sources challenges charge cards
Customer rewards focusing on supporting local businesses

PROSPECTS AND OPPORTUNITIES

Personal charge cards to decline further over the next five years
Innovative reward schemes might be able compete with other credit offers

CATEGORY DATA

Table 69 Charge Cards: Number of Cards in Circulation 2016-2021
Table 70 Charge Cards Transactions 2016-2021
Table 71 Charge Cards in Circulation: % Growth 2016-2021
Table 72 Charge Cards Transactions: % Growth 2016-2021
Table 73 Commercial Charge Cards: Number of Cards in Circulation 2016-2021
Table 74 Commercial Charge Cards Transactions 2016-2021
Table 75 Commercial Charge Cards in Circulation: % Growth 2016-2021
Table 76 Commercial Charge Cards Transactions: % Growth 2016-2021
Table 77 Personal Charge Cards: Number of Cards in Circulation 2016-2021
Table 78 Personal Charge Cards Transactions 2016-2021
Table 79 Personal Charge Cards in Circulation: % Growth 2016-2021
Table 80 Personal Charge Cards Transactions: % Growth 2016-2021
Table 81 Charge Cards: Number of Cards by Issuer 2016-2020
Table 82 Charge Cards: Number of Cards by Operator 2016-2020
Table 83 Charge Cards Payment Transaction Value by Issuer 2016-2020
Table 84 Charge Cards Payment Transaction Value by Operator 2016-2020
Table 85 Commercial Charge Cards: Number of Cards by Issuer 2016-2020
Table 86 Commercial Charge Cards: Number of Cards by Operator 2016-2020
Table 87 Commercial Charge Cards Payment Transaction Value by Issuer 2016-2020
Table 88 Commercial Charge Cards Payment Transaction Value by Operator 2016-2020
Table 89 Personal Charge Cards: Number of Cards by Issuer 2016-2020
Table 90 Personal Charge Cards: Number of Cards by Operator 2016-2020
Table 91 Personal Charge Cards Transaction Value by Issuer 2016-2020
Table 92 Personal Charge Cards Transaction Value by Operator 2016-2020
Table 93 Forecast Charge Cards: Number of Cards in Circulation 2021-2026
Table 94 Forecast Charge Cards Transactions 2021-2026
Table 95 Forecast Charge Cards in Circulation: % Growth 2021-2026
Table 96 Forecast Charge Cards Transactions: % Growth 2021-2026
Table 97 Forecast Commercial Charge Cards: Number of Cards in Circulation 2021-2026
Table 98 Forecast Commercial Charge Cards Transactions 2021-2026
Table 99 Forecast Commercial Charge Cards in Circulation: % Growth 2021-2026
Table 100 Forecast Commercial Charge Cards Transactions: % Growth 2021-2026
Table 101 Forecast Personal Charge Cards: Number of Cards in Circulation 2021-2026
Table 102 Forecast Personal Charge Cards Transactions 2021-2026
Table 103 Forecast Personal Charge Cards in Circulation: % Growth 2021-2026
Table 104 Forecast Personal Charge Cards Transactions: % Growth 2021-2026

PRE-PAID CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS

2021 DEVELOPMENTS

Closed loop pre-paid cards continues to be driven by the success of gift cards
Railsbank acquires open loop pre-paid card issuer Wirecard
General purpose reloadable cards increase financial inclusion during the pandemic

PROSPECTS AND OPPORTUNITIES

Growth in pre-paid cards driven by well-performing open and closed loop cards
Digitalisation to reimagine the gift cards landscape
Currency conversion function and crypto offer to boost future growth

CATEGORY DATA

Table 105 Pre-paid Cards: Number of Cards in Circulation 2016-2021
Table 106 Pre-paid Cards Transactions 2016-2021
Table 107 Pre-paid Cards in Circulation: % Growth 2016-2021
Table 108 Pre-paid Cards Transactions: % Growth 2016-2021
Table 109 Closed Loop Pre-paid Cards Transactions 2016-2021
Table 110 Closed Loop Pre-paid Cards Transactions: % Growth 2016-2021
Table 111 Open Loop Pre-paid Cards Transactions 2016-2021
Table 112 Open Loop Pre-paid Cards Transactions: % Growth 2016-2021
Table 113 Pre-paid Cards: Number of Cards by Issuer 2016-2020
Table 114 Pre-paid Cards: Number of Cards by Operator 2016-2020
Table 115 Pre-paid Cards Transaction Value by Issuer 2016-2020
Table 116 Pre-paid Cards Transaction Value by Operator 2016-2020
Table 117 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2016-2020
Table 118 Closed Loop Pre-paid Cards: Number of Cards by Operator 2016-2020
Table 119 Closed Loop Pre-paid Cards Transaction Value by Issuer 2016-2020
Table 120 Closed Loop Pre-paid Cards Transaction Value by Operator 2016-2020
Table 121 Open Loop Pre-paid Cards: Number of Cards by Issuer 2016-2020
Table 122 Open Loop Pre-paid Cards: Number of Cards by Operator 2016-2020
Table 123 Open Loop Pre-paid Cards Transaction Value by Issuer 2016-2020
Table 124 Open Loop Pre-paid Cards Transaction Value by Operator 2016-2020
Table 125 Forecast Pre-paid Cards: Number of Cards in Circulation 2021-2026
Table 126 Forecast Pre-paid Cards Transactions 2021-2026
Table 127 Forecast Pre-paid Cards in Circulation: % Growth 2021-2026
Table 128 Forecast Pre-paid Cards Transactions: % Growth 2021-2026
Table 129 Forecast Closed Loop Pre-paid Cards Transactions 2021-2026
Table 130 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2021-2026
Table 131 Forecast Open Loop Pre-paid Cards Transactions 2021-2026
Table 132 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2021-2026

STORE CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS

2021 DEVELOPMENTS

Store cards discontinued due to the collapse of high street brands
Customers prefer alternative card types to store cards
Buy now, pay later to reimagine the role of store cards

PROSPECTS AND OPPORTUNITIES

Store cards to decline further over the forecast period
Favourable co-branded credit card offers attract more customers
Development of retailers’ loyalty schemes will shift customers away from store cards

CATEGORY DATA