Credit card purchases in the UK averaged roughly ** pounds, or about ** dollars, in 2021 - a value that was noticeably lower than in previous years. This is according to estimates based on the overall value of credit card transactions against the number of transactions within the country. These numbers have only been reported on an annual basis. Credit card transaction sizes in the United Kingdom declined for several years in a row, potentially indicating they get increasingly used for less large purchases.

The number of credit card transactions in the UK in the February 2025 reached similar monthly amount as in 2019. Following the global COVID-19 pandemic, UK consumers appear to be taking significant steps to curb unnecessary spending. One area that has risen is the average spend on contactless cards.

The number of active credit card accounts in the United Kingdom (UK) generally increased between 2012 and 2021 with significant variation between certain months. There was a sharp increase in active credit card accounts between February 2019 and February 2020 and an equivalent decline thereafter. As of February 2025, there were 37.23 million accounts in the UK. Active credit card accounts are those with balances outstanding at the end of the calendar month, and make up more than half of the total credit card accounts in the UK for the same period. Transactions and purchases The global coronavirus pandemic has had a negative effect on credit card transactions in the UK. Between December 2019 and June 2020, the number of monthly credit card transactions almost halved, while the value of purchases also saw a decrease into 2020. However, since late 2021, these trends have reversed, showing an overall increase despite some fluctuations. Average purchase amounts Along with the number of transactions and the fall in the value of purchases made, the average amount spent per purchase using a credit card also fell in 2020. Since then, the average value of the purchases made by individuals increased compared to pre-pandemic levels.

Daily, weekly and monthly data showing seasonally adjusted and non-seasonally adjusted UK spending using debit and credit cards. These are official statistics in development. Source: CHAPS, Bank of England.

The average credit card purchase value in the United Kingdom was over ** British pounds as of February 2025. This was slightly higher than in the same month of the previous year but lower than in January 2023, when it reached an all-time high, with each individual credit card transaction averaging **** British pounds. This contrasted with April 2020, when coronavirus measures caused the average credit card value to decline. However, the total credit card debt in the UK in February 2025 grew by more than four percent year-on-year.

The average value of a credit card transaction in the United Kingdom is predicted to slightly decrease between 2023 and 2028, by over two USD. This is according to one of several forecasts made by Statista covering the credit card market in the United Kingdom. The European country is one of the most mature countries in the world when it comes to credit card penetration. This is reflected in the value of credit card payments, making up over eight percent of the country's GDP.

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The average spend on contactless cards in the United Kingdom (UK) has seen a sharp increase since the global Covid-19 pandemic. Despite the total value and volume of card payments took a hit during the first six months of 2020, the average value of transactions involving contactless cards has risen from under 10 British pounds to a height of over 15 GBP in February 2025. Although contactless payments are gaining popularity, they are still used for smaller sums compared to credit cards.

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Mobile Card Reader Market Size 2024-2028

The mobile card reader market size is forecast to increase by USD 28.8 billion at a CAGR of 25.2% between 2023 and 2028.

The market is witnessing significant growth, driven by the increasing adoption of contactless payments and the emergence of near field communication (NFC) technology. These trends enable seamless, on-the-go transactions, catering to the growing demand for convenience and flexibility in financial transactions. However, the market faces challenges as well. High operating and maintenance costs of Point of Sale (PoS) terminals can hinder small businesses from adopting mobile card readers. Furthermore, regulatory hurdles impact adoption in certain regions, necessitating compliance with various data security and privacy regulations. To capitalize on market opportunities and navigate challenges effectively, companies must focus on offering cost-effective solutions, ensuring regulatory compliance, and enhancing the security features of their mobile card readers. By addressing these challenges and leveraging the market's growth drivers, players can position themselves for long-term success in the market.

What will be the Size of the Mobile Card Reader Market during the forecast period?

Request Free SampleThe market is experiencing significant advancements in payment security and technology. Integrated payments, secure data transmission, and fraud prevention are key priorities for merchants and consumers alike. Two-factor authentication and biometric authentication are becoming standard payment security solutions. Payment industry regulations mandate stringent security measures to protect sensitive data. The average ticket size and transaction volume continue to increase, necessitating faster payment processing solutions. Merchant services and payment gateway integration are essential for omni-channel payments and seamless customer experience. Payment processing agreements and transaction time are critical factors in merchant adoption of payment solutions. Cloud-based payments and payment processing solutions enable merchants to accept payments anywhere, anytime. Payment acceptance rates are improving due to the convenience and flexibility of mobile payment solutions. Payment industry standards and payment processing speed are crucial for maintaining customer trust and loyalty. POS systems and payment terminals require robust mobile device security to protect against cyber threats. Payment innovation, such as payment technology advancements, is driving the market forward. Data protection and payment acceptance solutions are essential for merchants to stay competitive in the ever-evolving payment landscape.

How is this Mobile Card Reader Industry segmented?

The mobile card reader industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ApplicationChip and pinNear field communicationMagnetic stripeEnd-userLarge enterprisesMSMEsGeographyNorth AmericaUSEuropeUKAPACChinaIndiaRest of World (ROW)

By Application Insights

The chip and pin segment is estimated to witness significant growth during the forecast period.Chip and pin technology, a secure payment method utilizing microchips and personal identification numbers (PINs), has gained significant traction in the global market. Originally implemented in the UK to combat escalating fraud on lost or stolen cards, this technology is now adopted in numerous countries, including the US, the UK, and India. The technology embedded in credit and debit cards, this microchip securely stores user information, such as cardholder name, account number, and expiration date. Upon transaction initiation, the chip reads this data and requests the user to input their 4-digit PIN for authorization. Beyond chip and pin, the market encompasses various entities shaping its dynamics. Payment analytics facilitate businesses in gaining valuable insights from transaction data. Mobile ticketing simplifies the process of purchasing and managing tickets for events or transportation via mobile devices. Mobile app integration streamlines business operations, enabling seamless transactions through customized applications. Payment security is a top priority, with data encryption, real-time processing, and fraud detection ensuring secure transactions. Mobile workforce and field services benefit from mobile card readers, allowing for on-the-go transactions and inventory management. Financial services and online ordering integrate mobile payments for convenience and efficiency. Customer loyalty programs, point of sale, and payment processing fees are essential components, with secure Payment Gateways and mobile commerce offering real-time processing and receipt printing. The hospitality industry and retai

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