Financial Cards and Payments in the United Kingdom

November 2024
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Overview:

Understand the latest market trends and future growth opportunities for the Financial Cards and Payments industry in United Kingdom with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Financial Cards and Payments industry in United Kingdom, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Financial Cards and Payments in United Kingdom report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Financial Cards and Payments in United Kingdom?
  • What are the major trends key to understanding Financial Cards and Payments in United Kingdom?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?

Financial Cards and Payments in the United Kingdom - Industry Overview

Financial cards and payments in 2024: The big picture
2024 key trends
Rising adoption of digital wallets spurs innovation attempts to boost consumer confidence
Competitive landscape
What next for financial cards and payments?
Table 1 Number of POS Terminals: Units 2019-2024
Table 2 Number of ATMs: Units 2019-2024
Table 3 Value Lost to Fraud 2019-2024
Table 4 Card Expenditure by Location 2024
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
Table 6 Domestic versus Foreign Spend 2024
Table 7 Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 8 Financial Cards by Category: Number of Accounts 2019-2024
Table 9 Financial Cards Transactions by Category: Value 2019-2024
Table 10 Financial Cards by Category: Number of Transactions 2019-2024
Table 11 Consumer Payments by Category: Value 2019-2024
Table 12 Consumer Payments by Category: Number of Transactions 2019-2024
Table 13 M-Commerce by Category: Value 2019-2024
Table 14 M-Commerce by Category: % Value Growth 2019-2024
Table 15 Financial Cards: Number of Cards by Issuer 2019-2023
Table 16 Financial Cards: Number of Cards by Operator 2019-2023
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
Table 20 Forecast Financial Cards by Category: Number of Accounts 2024-2029
Table 21 Forecast Financial Cards Transactions by Category: Value 2024-2029
Table 22 Forecast Financial Cards by Category: Number of Transactions 2024-2029
Table 23 Forecast Consumer Payments by Category: Value 2024-2029
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
Table 25 Forecast M-Commerce by Category: Value 2024-2029
Table 26 Forecast M-Commerce by Category: % Value Growth 2024-2029

DISCLAIMER

Summary 1 Research Sources

Charge Cards in the United Kingdom - Category analysis

KEY DATA FINDINGS

As economy stabilises and consumers increasingly turn to other payment options, charge card usage resumes declining trend
Preference for UK businesses to use electronic payments compounds losses for commercial charge cards
Charge card competition is concentrated among a small number of players
Despite higher demand for credit, personal charge cards will fall behind more appealing options
Commercial charge cards set to continue declining as businesses favour credit cards and electronic payments
Competitive landscape likely to change over forecast period as participants move towards more profitable segments
Table 27 Charge Cards: Number of Cards in Circulation 2019-2024
Table 28 Charge Cards Transactions 2019-2024
Table 29 Charge Cards in Circulation: % Growth 2019-2024
Table 30 Charge Cards Transactions: % Growth 2019-2024
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 32 Commercial Charge Cards Transactions 2019-2024
Table 33 Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 34 Commercial Charge Cards Transactions: % Growth 2019-2024
Table 35 Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 36 Personal Charge Cards Transactions 2019-2024
Table 37 Personal Charge Cards in Circulation: % Growth 2019-2024
Table 38 Personal Charge Cards Transactions: % Growth 2019-2024
Table 39 Charge Cards: Number of Cards by Issuer 2019-2023
Table 40 Charge Cards: Number of Cards by Operator 2019-2023
Table 41 Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 42 Charge Cards Payment Transaction Value by Operator 2019-2023
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2019-2023
Table 44 Commercial Charge Cards: Number of Cards by Operator 2019-2023
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2019-2023
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2019-2023
Table 47 Personal Charge Cards: Number of Cards by Issuer 2019-2023
Table 48 Personal Charge Cards: Number of Cards by Operator 2019-2023
Table 49 Personal Charge Cards Transaction Value by Issuer 2019-2023
Table 50 Personal Charge Cards Transaction Value by Operator 2019-2023
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2024-2029
Table 52 Forecast Charge Cards Transactions 2024-2029
Table 53 Forecast Charge Cards in Circulation: % Growth 2024-2029
Table 54 Forecast Charge Cards Transactions: % Growth 2024-2029
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2024-2029
Table 56 Forecast Commercial Charge Cards Transactions 2024-2029
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2024-2029
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2024-2029
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2024-2029
Table 60 Forecast Personal Charge Cards Transactions 2024-2029
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2024-2029
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2024-2029

Credit Cards in the United Kingdom - Category analysis

KEY DATA FINDINGS

Prioritising experiences is a key reason fuelling personal credit card transaction growth
BNPL continues to rise across the UK as regulations are further delayed
American Express continues to strive for greater merchant acceptance in the UK
Future credit card growth will be impacted by local economy and BNPL’s performance
Rising concerns place pressure on authorities to finally establish BNPL regulations
Visa Inc set to gain share due to reaffirmation of relationship with Lloyds Banking Group
Table 63 Credit Cards: Number of Cards in Circulation 2019-2024
Table 64 Credit Cards Transactions 2019-2024
Table 65 Credit Cards in Circulation: % Growth 2019-2024
Table 66 Credit Cards Transactions: % Growth 2019-2024
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 68 Commercial Credit Cards Transactions 2019-2024
Table 69 Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 70 Commercial Credit Cards Transactions: % Growth 2019-2024
Table 71 Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 72 Personal Credit Cards Transactions 2019-2024
Table 73 Personal Credit Cards in Circulation: % Growth 2019-2024
Table 74 Personal Credit Cards Transactions: % Growth 2019-2024
Table 75 Credit Cards: Number of Cards by Issuer 2019-2023
Table 76 Credit Cards: Number of Cards by Operator 2019-2023
Table 77 Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 78 Credit Cards Payment Transaction Value by Operator 2019-2023
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
Table 80 Commercial Credit Cards: Number of Cards by Operator 2019-2023
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
Table 83 Personal Credit Cards: Number of Cards by Issuer 2019-2023
Table 84 Personal Credit Cards: Number of Cards by Operator 2019-2023
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
Table 88 Forecast Credit Cards Transactions 2024-2029
Table 89 Forecast Credit Cards in Circulation: % Growth 2024-2029
Table 90 Forecast Credit Cards Transactions: % Growth 2024-2029
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
Table 92 Forecast Commercial Credit Cards Transactions 2024-2029
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
Table 96 Forecast Personal Credit Cards Transactions 2024-2029
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2024-2029

Debit Cards in the United Kingdom - Category analysis

KEY DATA FINDINGS

Debit card usage on the rise in the UK, replacing paper transactions for individuals and businesses
Micropayments boost growth of personal debit card transactions
Traditional banks retain leadership of debit cards despite remarkable rise of neobanks
Debit cards set to remain as preferred method of payment over forecast period
CrowdStrike IT meltdown prompts calls to strengthen card and electronic payment system due to rising usage
Issuing of virtual debit cards set to rise in an effort to minimise fraud
Table 99 Debit Cards: Number of Cards in Circulation 2019-2024
Table 100 Debit Cards Transactions 2019-2024
Table 101 Debit Cards in Circulation: % Growth 2019-2024
Table 102 Debit Cards Transactions: % Growth 2019-2024
Table 103 Debit Cards: Number of Cards by Issuer 2019-2023
Table 104 Debit Cards: Number of Cards by Operator 2019-2023
Table 105 Debit Cards Payment Transaction Value by Issuer 2019-2023
Table 106 Debit Cards Payment Transaction Value by Operator 2019-2023
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
Table 108 Forecast Debit Cards Transactions 2024-2029
Table 109 Forecast Debit Cards in Circulation: % Growth 2024-2029
Table 110 Forecast Debit Cards Transactions: % Growth 2024-2029

Pre-Paid Cards in the United Kingdom - Category analysis

KEY DATA FINDINGS

Safety concerns and convenient travel features drive growth of open loop pre-paid cards
Growth of closed loop pre-paid cards continues to be fuelled by popularity of merchant issued gift cards
Open loop pre-paid cards contributes to younger consumers’ growing financial literacy
Financial inclusion, protection against fraud and gift cards' popularity to help drive positive performance of pre-paid cards over forecast period
Future growth of open loop pre-paid travel cards will depend on developing capabilities of debit and credit cards for use abroad
Transportation cards set to further decline as contactless payments rise
Table 111 Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 112 Pre-paid Cards Transactions 2019-2024
Table 113 Pre-paid Cards in Circulation: % Growth 2019-2024
Table 114 Pre-paid Cards Transactions: % Growth 2019-2024
Table 115 Closed Loop Pre-paid Cards Transactions 2019-2024
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 117 Open Loop Pre-paid Cards Transactions 2019-2024
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 119 Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 120 Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 121 Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 122 Pre-paid Cards Transaction Value by Operator 2019-2023
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
Table 132 Forecast Pre-paid Cards Transactions 2024-2029
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029

Store Cards in the United Kingdom - Category analysis

KEY DATA FINDINGS

Waning appeal of store cards due to rise of more dynamic options
Major retailers increasingly adopt co-branded credit cards and BNPL partnerships
Merchant issued gift cards more popular option than store cards
Store cards set to maintain a sharp downward trend over the forecast period
BNPL to offer further competition
Competitive landscape set to consolidate as category continues to lose its appeal
Table 139 Store Cards: Number of Cards in Circulation 2019-2024
Table 140 Store Cards Transactions 2019-2024
Table 141 Store Cards in Circulation: % Growth 2019-2024
Table 142 Store Cards Transactions: % Growth 2019-2024
Table 143 Store Cards: Number of Cards by Issuer 2019-2023
Table 144 Store Cards: Payment Transaction Value by Issuer 2019-2023
Table 145 Forecast Store Cards: Number of Cards in Circulation 2024-2029
Table 146 Forecast Store Cards Transactions 2024-2029
Table 147 Forecast Store Cards in Circulation: % Growth 2024-2029
Table 148 Forecast Store Cards Transactions: % Growth 2024-2029
Download table of contents
The following categories and subcategories are included:

Financial Cards and Payments

    • ATM Cards
      • Commercial Charge Cards
      • Personal Charge Cards
      • Commercial Credit Cards
      • Personal Credit Cards
      • Commercial Debit Cards
      • Personal Debit Cards
      • Closed Loop Pre-Paid Cards
      • Open Loop Pre-Paid Cards
    • Store Cards
      • Commercial Card Payment Transactions
      • Commercial Electronic Direct/ACH Transactions
      • Commercial Paper Payment Transactions
      • Personal Card Payment Transactions
      • Personal Electronic Direct/ACH Transactions
      • Personal Paper Payment Transactions
        • Commercial Electronic Direct/ACH Transactions
        • Personal Electronic Direct/ACH Transactions
          • Commercial Cash Transactions
          • Commercial Other Paper Transactions
          • Personal Cash Transactions
          • Personal Other Paper Transactions
      • Mobile Proximity Payments
      • Mobile Remote Payments

Financial Cards and Payments

Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.

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This report originates from Passport, our Financial Cards and Payments research and analysis database.

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