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United Kingdom E-Commerce Payment Market Report 2020 - Market is Expected to Surpass US$200+ Billion by 2026

Research and Markets
·3-min read

Dublin, Nov. 05, 2020 (GLOBE NEWSWIRE) -- The "United Kingdom E-Commerce Payment Market & Forecast, by Category (Clothes & Sports, Travel, Electronic, Others), Payment Method (Bank Transfer, Card, D-Wallet, & Others), Bank Analysis" report has been added to ResearchAndMarkets.com's offering.

United Kingdom's e-commerce payment market is expected to be US$ 203.08 Billion by 2026

The United Kingdom's e-commerce sector continues to be one with high growth, innovation, and dynamism. Cards transactions are the primary solution while entering the UK. Cards (Credit & Debit) remain the predominant payment method within the e-commerce space. The rate of growth in mobile trade also makes it difficult to overlook this segment: it is expected to outstrip growth in e-commerce overall in the UK.

The UK is, without a doubt, a major e-commerce market, and one that continues to set trends for others to emulate, due to advanced technology and competitive payments market. This growth is driven by widespread and growing consumer acceptance of technology and smart devices. The United Kingdom now has more than 95% of households with mobile phones. Companies in the UK are looking to ease the payment method for the users. So that the users have no fear while doing a transaction on the internet and it also minimizes fraud transactions.

Digital wallets are catching up fast and are increasingly powered by e-commerce transactions. They are expanding at twice the pace of cards, driven in part because customers believe brands like PayPal offer durable protection. PayPal dominates digital wallet payments in the UK, thwarting attempts by rival Apple Pay to become a more significant player.

Impact of COVID-19 on United Kingdom Ecommerce Industry

COVID-19 pandemic had a profound impact on the e-Commerce payment market in the United Kingdom. The purchase of food & grocery items via online medium has shown good growth in the year 2020. As due to coronavirus, peoples were reluctant to leave their homes and have relied more on home delivery of items by online ordering.

This report provides an all-encompassing analysis of the key growth drivers and restraining factors, demand, and their projections for the upcoming years.

Key Players covered in the report which has been studied from 3 viewpoints

  • Overview

  • Initiatives & Recent Developments

  • Revenue

Digital Wallet covered in this report

  • PayPal

  • Google Pay

  • Amazon Pay

  • Samsung Pay

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Banks Covered in this report

  • HSBC

  • Lloyd Banking Group

  • Barclays

  • Royal Bank of Scotland

  • Santander

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges

5. UK E-commerce Payment Market

6. UK E-commerce Payment Market Share Analysis
6.1 By Category
6.2 By Payment Method

7. Category - UK Ecommerce Payment Market
7.1 Clothes and Sports Goods Market
7.1.1 By Payment Method
7.2 Travel and Holiday Accommodation Market
7.3 Household Goods Market
7.4 Films and Music Market
7.5 Tickets for Events Market
7.6 By Books/magazines/newspapers Market
7.7 Computer Software Market
7.8 Food/groceries Market
7.9 Electronic Equipments Market
7.10 Computer Hardware Market
7.11 Medicines Market
7.12 Others Market

8. Payment Method Market
8.1 Bank Transfer
8.2 Card
8.3 Digital Wallets
8.4 Cash
8.5 Direct Debit
8.6 Others

9. Digital wallets Analysis
9.1 PayPal
9.1.1 Overview
9.1.2 Initiatives & Recent Developments
9.1.3 Revenue
9.2 Googlepay
9.3 Amazon pay
9.4 Samsung pay

10. Banking analysis
10.1 HSBC
10.1.1 Overview
10.1.2 Initiatives & Recent Developments
10.1.3 Revenue
10.2 Lloyd Banking Grup
10.3 Barclays
10.4 Royal Bank of Scotland
10.5 Santander

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

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900