Payment System Regulator (PSR), since April 2015.
New Payment System Operator (NPSO)
UK Finance, association of the UK banking industry, since July 2017. LINK ATM scheme; May 2017: VocaLink now a Mastercard company.
Domestic Card Brand
LINK (ATM network brand).
Competitive card business infrastructure composed of more than 30 major issuers, 14 active acquirers, four card processors, around 150 PSPs, one ATM network (LINK), eight independent ATM service providers (ISOs), many payment institutions and e-money institutions.
In 2004, expenditure on cards exceeded expenditure on cash; UK was the first major economy in the world to break this barrier.
In contrast to continental Europe, credit cards are a main source of consumer finance. Because UK consumers in general are overstretched, credit card borrowing has been static, since 2004.
Rapid rollout of contactless cards and POS/MPOS terminals.
Rising in card fraud losses, up by 8.9% on 2015 after 18% on 2014.
UK banks invest in card-less payment services beyond cards.
UK regulators focussed on governance of the payments industry and third-party providers in an Open Banking ecosystem.
Notable Market Trends
HCE NFC payments, MPOS terminals, QR-code/BLE payments; digital wallets, Apple Pay, Samsung Pay, Android Pay; card-less payments: Pingit, ZAPP, Paym; Faster Payments
Statistical Key Figures for 2016 provided in this profile:
• UPDATED: tables with card business data 2012-2016; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
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1.0.0 last updated 2nd December 2017