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Financial Cards and Payments in the United Kingdom

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    Report

  • 65 Pages
  • November 2023
  • Region: United Kingdom
  • Euromonitor International
  • ID: 2395076
In 2023, the UK’s economy has continued to be characterised by a high inflation rate and a rising cost of living. And, while in 2022 this situation was mainly exacerbated by the high cost of energy, in 2023 this cost has gradually started decreasing, and inflation is being driven by upwards pressure on the prices of food and non-alcoholic drinks. To bring inflation down, the Bank of England has been continuously raising its base rate, to 5%, the highest rate in 15 years.

The 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, Mobile Payments, 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.

Table of Contents

FINANCIAL CARDS AND PAYMENTS IN THE UNITED KINGDOM
EXECUTIVE SUMMARY
  • Financial cards and payments in 2023: The big picture
  • 2023 key trends
  • Adoption of digital wallets continues to grow thanks to Apple’s investment in payments
  • Competitive landscape
  • What next for financial cards and payments?
MARKET INDICATORS
  • Table 1 Number of POS Terminals: Units 2018-2023
  • Table 2 Number of ATMs: Units 2018-2023
  • Table 3 Value Lost to Fraud 2018-2023
  • Table 4 Card Expenditure by Location 2023
  • Table 5 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
  • Table 6 Domestic versus Foreign Spend 2023
MARKET DATA
  • Table 7 Financial Cards by Category: Number of Cards in Circulation 2018-2023
  • Table 8 Financial Cards by Category: Number of Accounts 2018-2023
  • Table 9 Financial Cards Transactions by Category: Value 2018-2023
  • Table 10 Financial Cards by Category: Number of Transactions 2018-2023
  • Table 11 Consumer Payments by Category: Value 2018-2023
  • Table 12 Consumer Payments by Category: Number of Transactions 2018-2023
  • Table 13 M-Commerce by Category: Value 2018-2023
  • Table 14 M-Commerce by Category: % Value Growth 2018-2023
  • Table 15 Financial Cards: Number of Cards by Issuer 2018-2022
  • Table 16 Financial Cards: Number of Cards by Operator 2018-2022
  • Table 17 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
  • Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
  • Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
  • Table 20 Forecast Financial Cards by Category: Number of Accounts 2023-2028
  • Table 21 Forecast Financial Cards Transactions by Category: Value 2023-2028
  • Table 22 Forecast Financial Cards by Category: Number of Transactions 2023-2028
  • Table 23 Forecast Consumer Payments by Category: Value 2023-2028
  • Table 24 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
  • Table 25 Forecast M-Commerce by Category: Value 2023-2028
  • Table 26 Forecast M-Commerce by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
  • Summary 1 Research Sources
DEBIT CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Debit cards maintains a positive performance
  • Monzo continues to expand
  • The use of contactless and mobile payments keeps spreading amongst Britons
PROSPECTS AND OPPORTUNITIES
  • Debit cards will remain the preferred payment method
  • Transactions where the cardholder is not present set to rise
  • More dynamic competition between debit card players
CATEGORY DATA
  • Table 27 Debit Cards: Number of Cards in Circulation 2018-2023
  • Table 28 Debit Cards Transactions 2018-2023
  • Table 29 Debit Cards in Circulation: % Growth 2018-2023
  • Table 30 Debit Cards Transactions: % Growth 2018-2023
  • Table 31 Debit Cards: Number of Cards by Issuer 2018-2022
  • Table 32 Debit Cards: Number of Cards by Operator 2018-2022
  • Table 33 Debit Cards Payment Transaction Value by Issuer 2018-2022
  • Table 34 Debit Cards Payment Transaction Value by Operator 2018-2022
  • Table 35 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
  • Table 36 Forecast Debit Cards Transactions 2023-2028
  • Table 37 Forecast Debit Cards in Circulation: % Growth 2023-2028
  • Table 38 Forecast Debit Cards Transactions: % Growth 2023-2028
CREDIT CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Britons increase their credit card spending to deal with the rising cost of living
  • As banks tighten their requirements, BNPL continues to expand
  • Mastercard grows its share in commercial credit cards
PROSPECTS AND OPPORTUNITIES
  • Consumers may struggle to pay back their credit in the near future
Incoming regulation on BNPL
  • Inflation will continue to define the forecast for credit cards
CATEGORY DATA
  • Table 39 Credit Cards: Number of Cards in Circulation 2018-2023
  • Table 40 Credit Cards Transactions 2018-2023
  • Table 41 Credit Cards in Circulation: % Growth 2018-2023
  • Table 42 Credit Cards Transactions: % Growth 2018-2023
  • Table 43 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
  • Table 44 Commercial Credit Cards Transactions 2018-2023
  • Table 45 Commercial Credit Cards in Circulation: % Growth 2018-2023
  • Table 46 Commercial Credit Cards Transactions: % Growth 2018-2023
  • Table 47 Personal Credit Cards: Number of Cards in Circulation 2018-2023
  • Table 48 Personal Credit Cards Transactions 2018-2023
  • Table 49 Personal Credit Cards in Circulation: % Growth 2018-2023
  • Table 50 Personal Credit Cards Transactions: % Growth 2018-2023
  • Table 51 Credit Cards: Number of Cards by Issuer 2018-2022
  • Table 52 Credit Cards: Number of Cards by Operator 2018-2022
  • Table 53 Credit Cards Payment Transaction Value by Issuer 2018-2022
  • Table 54 Credit Cards Payment Transaction Value by Operator 2018-2022
  • Table 55 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
  • Table 56 Commercial Credit Cards: Number of Cards by Operator 2018-2022
  • Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
  • Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
  • Table 59 Personal Credit Cards: Number of Cards by Issuer 2018-2022
  • Table 60 Personal Credit Cards: Number of Cards by Operator 2018-2022
  • Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
  • Table 62 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
  • Table 63 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
  • Table 64 Forecast Credit Cards Transactions 2023-2028
  • Table 65 Forecast Credit Cards in Circulation: % Growth 2023-2028
  • Table 66 Forecast Credit Cards Transactions: % Growth 2023-2028
  • Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
  • Table 68 Forecast Commercial Credit Cards Transactions 2023-2028
  • Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
  • Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
  • Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
  • Table 72 Forecast Personal Credit Cards Transactions 2023-2028
  • Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
  • Table 74 Forecast Personal Credit Cards Transactions: % Growth 2023-2028
CHARGE CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Charge cards continues declining in 2023
  • Consumers’ desire for flexible access to credit is not fulfilled by charge cards
  • Competitive landscape keeps consolidating in charge cards
PROSPECTS AND OPPORTUNITIES
  • Further declines expected for charge cards in the forecast period
  • Competitive landscape expected to see changes
CATEGORY DATA
  • Table 75 Charge Cards: Number of Cards in Circulation 2018-2023
  • Table 76 Charge Cards Transactions 2018-2023
  • Table 77 Charge Cards in Circulation: % Growth 2018-2023
  • Table 78 Charge Cards Transactions: % Growth 2018-2023
  • Table 79 Commercial Charge Cards: Number of Cards in Circulation 2018-2023
  • Table 80 Commercial Charge Cards Transactions 2018-2023
  • Table 81 Commercial Charge Cards in Circulation: % Growth 2018-2023
  • Table 82 Commercial Charge Cards Transactions: % Growth 2018-2023
  • Table 83 Personal Charge Cards: Number of Cards in Circulation 2018-2023
  • Table 84 Personal Charge Cards Transactions 2018-2023
  • Table 85 Personal Charge Cards in Circulation: % Growth 2018-2023
  • Table 86 Personal Charge Cards Transactions: % Growth 2018-2023
  • Table 87 Charge Cards: Number of Cards by Issuer 2018-2022
  • Table 88 Charge Cards: Number of Cards by Operator 2018-2022
  • Table 89 Charge Cards Payment Transaction Value by Issuer 2018-2022
  • Table 90 Charge Cards Payment Transaction Value by Operator 2018-2022
  • Table 91 Commercial Charge Cards: Number of Cards by Issuer 2018-2022
  • Table 92 Commercial Charge Cards: Number of Cards by Operator 2018-2022
  • Table 93 Commercial Charge Cards Payment Transaction Value by Issuer 2018-2022
  • Table 94 Commercial Charge Cards Payment Transaction Value by Operator 2018-2022
  • Table 95 Personal Charge Cards: Number of Cards by Issuer 2018-2022
  • Table 96 Personal Charge Cards: Number of Cards by Operator 2018-2022
  • Table 97 Personal Charge Cards Transaction Value by Issuer 2018-2022
  • Table 98 Personal Charge Cards Transaction Value by Operator 2018-2022
  • Table 99 Forecast Charge Cards: Number of Cards in Circulation 2023-2028
  • Table 100 Forecast Charge Cards Transactions 2023-2028
  • Table 101 Forecast Charge Cards in Circulation: % Growth 2023-2028
  • Table 102 Forecast Charge Cards Transactions: % Growth 2023-2028
  • Table 103 Forecast Commercial Charge Cards: Number of Cards in Circulation 2023-2028
  • Table 104 Forecast Commercial Charge Cards Transactions 2023-2028
  • Table 105 Forecast Commercial Charge Cards in Circulation: % Growth 2023-2028
  • Table 106 Forecast Commercial Charge Cards Transactions: % Growth 2023-2028
  • Table 107 Forecast Personal Charge Cards: Number of Cards in Circulation 2023-2028
  • Table 108 Forecast Personal Charge Cards Transactions 2023-2028
  • Table 109 Forecast Personal Charge Cards in Circulation: % Growth 2023-2028
  • Table 110 Forecast Personal Charge Cards Transactions: % Growth 2023-2028
PRE-PAID CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Pre-paid cards sees growth in 2023
  • Merchant issued gift cards keep growing in popularity despite cost-of-living crisis
  • Open loop pre-paid cards recovers growth after Revolut exits pre-paid cards
PROSPECTS AND OPPORTUNITIES
  • Further decreases expected for transportation cards
  • Open loop pre-paid cards a way to increase financial awareness
  • Personalisation and digitalisation will be key for closed loop pre-paid cards
CATEGORY DATA
  • Table 111 Pre-paid Cards: Number of Cards in Circulation 2018-2023
  • Table 112 Pre-paid Cards Transactions 2018-2023
  • Table 113 Pre-paid Cards in Circulation: % Growth 2018-2023
  • Table 114 Pre-paid Cards Transactions: % Growth 2018-2023
  • Table 115 Closed Loop Pre-paid Cards Transactions 2018-2023
  • Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
  • Table 117 Open Loop Pre-paid Cards Transactions 2018-2023
  • Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
  • Table 119 Pre-paid Cards: Number of Cards by Issuer 2018-2022
  • Table 120 Pre-paid Cards: Number of Cards by Operator 2018-2022
  • Table 121 Pre-paid Cards Transaction Value by Issuer 2018-2022
  • Table 122 Pre-paid Cards Transaction Value by Operator 2018-2022
  • Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
  • Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
  • Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
  • Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
  • Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
  • Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
  • Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
  • Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
  • Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
  • Table 132 Forecast Pre-paid Cards Transactions 2023-2028
  • Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
  • Table 134 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
  • Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
  • Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
  • Table 137 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
  • Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028
STORE CARDS IN THE UNITED KINGDOMKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Appeal of store cards continues to wane
  • Store cards are becoming less popular as BNPL becomes more widespread
  • Consumers prefer merchant issued gift cards to store cards
PROSPECTS AND OPPORTUNITIES
  • More convenient payment methods will continue to negatively impact store cards
  • Store cards will be outpaced by co-branded credit cards
CATEGORY DATA
  • Table 139 Store Cards: Number of Cards in Circulation 2018-2023
  • Table 140 Store Cards Transactions 2018-2023
  • Table 141 Store Cards in Circulation: % Growth 2018-2023
  • Table 142 Store Cards Transactions: % Growth 2018-2023
  • Table 143 Store Cards: Number of Cards by Issuer 2018-2022
  • Table 144 Store Cards: Payment Transaction Value by Issuer 2018-2022
  • Table 145 Forecast Store Cards: Number of Cards in Circulation 2023-2028
  • Table 146 Forecast Store Cards Transactions 2023-2028
  • Table 147 Forecast Store Cards in Circulation: % Growth 2023-2028
  • Table 148 Forecast Store Cards Transactions: % Growth 2023-2028