UK Contactless Payments Industry by Device and End-user - Forecast to 2025

DUBLIN, April 22, 2020 /PRNewswire/ -- The "UK Contactless Payment Market 2019-2025" report has been added to ResearchAndMarkets.com's offering.

UK Contactless Payment Market Size, Share & Trends Analysis by Device (Smartphones, Smartcards, Point of Sale Terminals and others) By End-User (Retail, Transportation, BFSI and Others) Forecast period 2019-2025.

UK contactless payment market has held a major market share due to high adoption and awareness. Due to modernization trend, adoption is also growing in UK at a high rate. UK is leading the market with the value of $460 million in 2018 and is estimated to reach about $1.2 billion till 2025. UK is one of those countries which is rapidly transforming from conventional to contactless payment methods and digital technology is emerging as one of the supporting pillars for rapid transformation of financial services.

According to UK Finance department, 7 out of every 10 account holders use online banking. Cash payments are continuously decreasing with the evolution of advanced technology in the financial sector. Approximately 62% of the total payments in 2006 were made through cash which has reduced to 40% in the year 2016 and in 2026, the number is estimated to decrease to 21%. With the increasing digital payments, financial institutions are trying to enhance security and handling of payment operations with the support of advanced technology.

Cashless payments are being made safer with the use of NFC technology. NFC technology-based payment cards are being integrated into shopping stores, product and service outlets, BFSI institutions, and others. The cashless mobile payments are being facilitated by using apps installed in smartphones. Currently available cashless mobile payment platforms in the UK include Amex Pay, Apple Pay, Barclays Contactless Mobile, Google Pay, and Samsung Pay. Moreover, digital payments are continuously growing in the country making it vulnerable to cyber-attacks. According to Faster Payment Organization based in UK, in October 2017, UK has reported 152.6 million digital transactions and from October 2017 to September 2018, the country has recorded 1.9 billion numbers of digital transactions.

The report covers:

• A comprehensive research methodology of the UK Contactless Payment market.
• A detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the UK Contactless Payment market.
• Insights about market determinants which are stimulating the UK Contactless Payment market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

Key Topics Covered

1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments

2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations

3. Competitive Landscape
3.1. Competitive Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments

4. Market Determinants
4.1 Motivators
4.2 Restraints
4.1. Opportunities

5. Market Segmentation
5.1. UK Contactless Payment Market by Device
5.1.1. Smartphones
5.1.2. Smart Cards
5.1.3. Point of Sale Terminals
5.1.4. Other
5.2. UK Contactless Payment Market by End-User
5.2.1. Retail
5.2.2. BFSI
5.2.3. Transportation
5.2.4. Others

6. Company Profiles
6.1. Gemalto N.V.
6.2. Giesecke+Devrient GmbH
6.3. IBM Corp.
6.4. Infineon Technologies AG
6.5. Ingenico Group S.A.
6.6. Prepay Solutions
6.7. Thales Group
6.8. Verifone Systems, Inc.
6.9. Visa, Inc.
6.10. Wirecard AG

For more information about this report visit https://www.researchandmarkets.com/r/3490t

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