NEW YORK, Jan. 5, 2016 /PRNewswire/ -- Synopsis
Timetric's '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).
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). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together Timetric's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies, recent changes in regulatory structure, card fraud statistics and profiles of card issuers operating in the country.
Timetric's 'The Cards and Payments Industry in the UK: Emerging Trends and Opportunities to 2019' report provides top-level market analysis, information and insights into the UK cards and payments industry, including:
- Current and forecast values for each market in the UK cards and payments industry, including debit card, credit and charge cards. It also includes detailed analysis of the prepaid card market.
- Detailed insights into payment instruments including credit transfers, cash transactions, checks, direct debits and payment cards. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis and online payment types.
- Analysis of various market drivers and regulations governing the UK cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
- Comprehensive analysis of consumer attitudes and buying preferences for cards.
- The competitive landscape of the UK cards and payments industry.
- 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.
Reasons To Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the UK cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the UK cards and payments industry.
- Assess the competitive dynamics in the UK cards and payments industry.
- Gain insights into marketing strategies used for various card types in the UK.
- Gain insights into key regulations governing the UK cards and payments industry.
- 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. 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. 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. 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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