the cards and payments industry in the uk: emerging trends and opportunities to 2019
TRANSCRIPT
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The Cards and Payments
Industry in the UK: Emerging
Trends and Opportunities to
2019
Category : Banking & Finance
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Introduction to Report
Launch Date: December 29, 2015
Number of Pages: 82
Geography Coverage: United Kingdom
Available Format: PDF
Price For Single User License: USD 3,995
Price For Site User License: USD 7,990
Price For Global User License: USD 11,985
Delivery Time: Within 24 Hours (During Working Days)
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About the Report
The Cards and Payments Industry in the UK: Emerging Trends and Opportunities to 2019 report provides detailed analysis of market trends in the UK cards and payments industry.
It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits, payment cards and cash transactions during the review period (2010–2014).
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Key Highlights:
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2015–2019).
The UK government implemented the EU rule on the interchange fee cap effective from December 9, 2015. Under these new rules, the interchange fee for credit and debit cards are capped at 0.3% and 0.2%, respectively.
The regulation is anticipated to have a major impact on profitability of the UK's payment cards market. With a reduction in revenue, issuers are likely to cut card offerings and benefits for consumers, and instead look at new ways to generate revenue.
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Key Highlights Continues…
One way could be to increase fees levied on debit and credit cards. Alternatively, high-street banks might put an end to free current accounts. The cap on interchange fees is expected to reduce card issuers' revenue from consumer cards, but not commercial cards.
Therefore, card issuers are likely to compensate for some of the lost revenue by issuing more commercial charge cards and credit cards.
The emergence of digital only banks is likely to accelerate a shift towards electronic payments in the UK. Atom Bank, which was granted a banking license by the Bank of England in June 2015, may become the country's first digital only bank, allowing consumers to conduct banking transactions entirely online and via mobile phones.
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Key Highlights Continues…
Other digital-only banks, such as the German-based Fidor Bank, Tandem Bank and Starling Bank, are also making their debut into the market.
The UK payment cards market has seen the uptake of contactless technology from 2013 onwards. According to the UK Cards Association, the number of contactless card transactions increased from 1.7 million in 2010 to 319.2 million in 2014.
In September 2015 alone, 103.2 million contactless transactions were made, including 89.7 million debit cards and 13.5 million credit and charge cards. One of the key drivers of contactless payments has been its use in London's public transport system.
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Key Highlights Continues…
In 2014, there were 17 million contactless payments in bus journeys and 14 million in rail trips. To drive growth in contactless payments, the UK Cards Association increased the spending limit on contactless transactions from the existing US$31.5 (GBP20) to US$47.9 (GBP30) in September 2015.
This move is anticipated to further propel contactless transactions in the UK.
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Scope:
This report provides a comprehensive analysis of the UK cards and payments industry.
It provides current values for the UK cards and payments industry for 2014, and forecast figures to 2019.
It details the different demographic, economic, infrastructural and business drivers affecting the UK cards and payments industry.
It outlines the current regulatory framework in the industry.
It details marketing strategies used by various banks and other institutions.
It profiles major banks in the UK cards and payments industry.
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Report Coverage:
Definitions and Methodology Key Facts and Events Executive Summary Payment Instruments E-Commerce Alternative Payments Regulations in the Cards and Payments Industry Analysis of Cards and Payments Industry Drivers Market Segmentation and New Product Launches Payment Cards, Debit Cards, Credit Cards, Charge Cards,
Commercial Cards, Card Fraud Statistics, Card Issuers, Prepaid Cards
Merchant Acquiring Appendix
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Company Coverage:
1. Llyods Bank
2. Barclays Bank
3. The Royal Bank of Scotland
4. HSBC
5. Santander UK
6. American Express
7. Visa
8. MasterCard
9. Diners Club
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