United Kingdom E-Commerce Payment Market Forecast Report by Type (Digital Wallet, Credit Card, Debit Card, Account-to-Account (A2A), Buy now pay later (BNPL), Cash on Delivery (CoD), PrePay, Others), Application (Electronics & Media, Food & Personal Care, Fashion Accessories, Furniture & Appliances, Others) and Company Analysis 2024-2032
Buy NowUnited Kingdom E-Commerce Payment Market Size
The United Kingdom E-Commerce Payment market is expected to reach US$ 156.83 Billion in 2023 to US$ 440.53 Billion by 2032, with a CAGR of 12.16 % from 2024 to 2032. Adoption of digital technology, customer demand for flexible payment methods, improved security, expansion of e-commerce, technological innovation, and heightened rivalry are important growth factors.
United Kingdom E-Commerce Payment Overview
The quick use of digital payment systems has resulted in a notable expansion of the United Kingdom e-commerce payment market. Methods including credit and debit cards, as well as digital wallets like PayPal, Apple Pay, and Google Pay, are becoming more and more popular with consumers. This tendency has been further accelerated by the growth of mobile commerce, as consumers look for safe and easy ways to use their cellphones to make purchases.
UK consumers continue to place a high value on security and trust, which has led payment providers to improve fraud prevention strategies and guarantee adherence to laws such as PSD2. Purchase behavior has also changed as a result of the introduction of buy-now-pay-later (BNPL) alternatives, particularly for younger consumers who are seeking financial flexibility. In order to position themselves to meet the changing expectations of consumers in this dynamic market, businesses are investing in seamless integration and tailored payment experiences as competition among payment service providers heats up.
| Report Features | Details |
|
Base Year |
2023 |
|
Forecast Years |
2024 - 2032 |
|
Historical Years |
2019 - 2023 |
|
Market Size in 2023 |
US$ 156.83 Billion |
|
Market Forecast in 2032 |
US$ 440.53 Billion |
|
Market Growth Rate (2024-2032) |
12.16% |
Growth Drivers for the United Kingdom E-Commerce Payment Market
More and more customers are choosing flexible payment options
Flexible payment options are becoming more and more popular among UK customers, which is indicative of their desire for convenience and improved money management. Online buying is made more efficient by digital wallets like PayPal, Apple Pay, and Google Pay, which enable speedy and safe purchases. This trend is more pronounced in younger populations, where easy payment experiences are important.
Additionally increasing popularity are buy-now-pay-later (BNPL) alternatives, which let customers make purchases without having to pay for them right away. Those who want rapid pleasure and better financial management will find this flexibility appealing. Retailers are adjusting to changing consumer expectations by incorporating a range of payment options that meet these needs and eventually improve the overall shopping experience.
Several industries around the world were forced to close due to government regulations during the COVID-19 epidemic. Because of the significant outage, more people are using the Buy Now Pay Later payment option when they buy and make purchases online. Buy Now Pay Later (BNPL) is predicted by Worldpay to almost treble its share of electronic commerce payments from 6.2% in 2021 to 12.1% in 2025.
Competition among payment companies has increased, spurring significant innovation
Significant innovation has been spurred by increased competition among payment providers in the UK e-commerce market. Innovative solutions that improve transaction speed, security, and user experience are constantly being developed by new competitors. Because of this changing environment, established firms are incentivized to enhance their products in order to stay competitive and relevant.
Customers gain from a greater selection of payment choices that are catered to their preferences as a result, such as digital wallets and contactless transactions. Better services—like smooth integrations and customized experiences—are starting to become standard. This competitive environment promotes a customer-centric mindset and propels technology developments, which in turn increases customer happiness and loyalty.
United Kingdom E-Commerce Payment Company Analysis
The major participants in the United Kingdom E-Commerce Payment market includes Amazon.com Inc., American Express Company, Apple Inc., Fiserv Inc., Mastercard Incorporated, Paypal Holdings Inc., Visa Inc.
United Kingdom E-Commerce Payment Company News
In October 2023, The Super App for Finance In the UK, Curve—which unifies customers' debit and credit cards into a single card and app—introduced its first credit card. With enhanced flexibility and security, the recently introduced credit card boasts all the characteristics of Curve. Clients can link their current cards to an online Curve Wallet; when they use their credit card for payment, the app charges the card they choose.
In February 2023, A new BNPL payment option for UK travel agencies was introduced by international payment service ECOMMPAY in response to demands for stricter regulations in the BNPL industry. Constructed using the company's exclusive technology, the new payment solution offers credit return limits to safeguard booking agencies and travel agents, higher credit limits for particular travel needs, and round-the-clock customer support with a strong risk scoring system customized to each individual's travel circumstances.
Type- Industry is divided into 8 viewpoints:
- Digital Wallet
- Credit Card
- Debit Card
- Account-to-Account (A2A)
- Buy now pay later (BNPL)
- Cash on Delivery (CoD)
- PrePay
- Others
Application- Industry is divided into 5 viewpoints:
- Electronics & Media
- Food & Personal Care
- Fashion Accessories
- Furniture & Appliances
- Others
All companies have been covered with 5 Viewpoints
- Overview
- Key Persons
- Recent Development & Strategies
- Product Portfolio
- Financial Insight
Company Analysis
- Amazon Inc.
- American Express Company
- Apple Inc.
- Fiserv Inc.
- Mastercard Incorporated
- Paypal Holdings Inc.
- Visa Inc.
Report Details:
| Report Features | Details |
| Base Year |
2023 |
| Historical Period |
2019 - 2023 |
| Forecast Period |
2024 - 2032 |
| Market |
US$ Billion |
| Companies Covered |
|
| Customization Scope |
20% Free Customization |
| Post-Sale Analyst Support |
1 Year (52 Weeks) |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request) |
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1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. United Kingdom E-Commerce Payment Market
6. Market Share
6.1 Type
6.2 Application
7. Type
7.1 Digital Wallet
7.2 Credit Card
7.3 Debit Card
7.4 Account-to-Account (A2A)
7.5 Buy now pay later (BNPL)
7.6 Cash on Delivery (CoD)
7.7 PrePay
7.8 Others
8. Application
8.1 Electronics & Media
8.2 Food & Personal Care
8.3 Fashion Accessories
8.4 Furniture & Appliances
8.5 Others
9. Porter’s Five Analysis
9.1 Bargaining Power of Buyers
9.2 Bargaining Power of Suppliers
9.3 Degree of Rivalry
9.4 Threat of New Entrants
9.5 Threat of Substitutes
10. SWOT Analysis
10.1 Strength
10.2 Weakness
10.3 Opportunity
10.4 Threat
11. Key Players Analysis
11.1 Amazon.com Inc.
11.1.1 Overview
11.1.2 Key Persons
11.1.3 Recent Development & Strategies
11.1.4 Product Portfolio
11.1.5 Financial Insight
11.2 American Express Company
11.2.1 Overview
11.2.2 Key Persons
11.2.3 Recent Development & Strategies
11.2.4 Product Portfolio
11.2.5 Financial Insight
11.3 Apple Inc.
11.3.1 Overview
11.3.2 Key Persons
11.3.3 Recent Development & Strategies
11.3.4 Product Portfolio
11.3.5 Financial Insight
11.4 Fiserv Inc.
11.4.1 Overview
11.4.2 Key Persons
11.4.3 Recent Development & Strategies
11.4.4 Product Portfolio
11.4.5 Financial Insight
11.5 Mastercard Incorporated
11.5.1 Overview
11.5.2 Key Persons
11.5.3 Recent Development & Strategies
11.5.4 Product Portfolio
11.5.5 Financial Insight
11.6 Paypal Holdings Inc.
11.6.1 Overview
11.6.2 Key Persons
11.6.3 Recent Development & Strategies
11.6.4 Product Portfolio
11.6.5 Financial Insight
11.7 Visa Inc.
11.7.1 Overview
11.7.2 Key Persons
11.7.3 Recent Development & Strategies
11.7.4 Product Portfolio
11.7.5 Financial Insight
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