Consumer Payments Country Snapshot: UK, Industry Analysis and Market Growth Research Report

"Consumer Payments Country Snapshot: UK" The Report covers current Market Trends, Analysis, Forecast, Review, Share, Size, Growth, Effect.

Description-

Summary

The UK payments market is highly mature arguably even over-served by its financial institutions. Access to formal financial services in the UK is easy and (though this is now changing in some cases) free, leading to a population which is highly comfortable with credit and debit cards both in-store and online.

Key Findings

- Bank transfers have now become the preferred P2P method in the UK, likely thanks to the convenience and speed of Paym transfers.

- E-commerce accounts for the majority of online purchases by value in the UK, although m-commerce is expected to record a compound annual growth rate (CAGR) of 11% between 2015 and 2020 as consumers become increasingly comfortable using mobiles to shop online.

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- The UK regulatory environment has seen significant change recently, with the dissolution of the Payments Council, the launch of a new Payment Systems Regulator, and the purchase of the formerly UK bank-owned infrastructure operator Vocal ink by MasterCard.

Synopsis

This report examines the consumer payments market in the UK, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. This report also examines the regulations in force in the market which players must comply with, and how these have changed in recent years.

- Analyzes the consumer attitudes to financial services by life stage.

- Analyzes the major payment card types in terms of both card holding and usage

- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.

- Considers consumer attitudes towards prepaid cards, P2P tools, mobile payment tools, and contactless cards, and how companies in the UK are deploying these tools to meet customer needs.

- Explores the online payment market in the UK by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

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- Considers the regulations affecting the payments market and how they are likely to affect both incumbents and disruptors.

ReasonsToBuy

- Understand the key facts and figures in the consumer payments market in the UK.

- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.

- Find out what products the major competitors are launching in the market and plan your strategy accordingly.

- Discover consumer sentiments towards various payment tools in the UK market and use this knowledge to inform product design.

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