The monthly amount of credit and debit transactions made in the United Kingdom (UK) fluctuated significantly between 2019 and 2020. Following the global COVID-19 pandemic, UK consumers appear to have made significant efforts to engage in fewer transactions and spend less money. A low point was experienced in **********, when less than *********** transactions took place. However, since late 2021, this trend has reversed, showing an overall increase despite some fluctuations, and as of ********, there were almost 2.3 billion credit and debit transactions made in the UK.

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.

Debit and prepaid cards were the most popular method of POS transactions in the United Kingdom in 2024, accounting for ** percent of transactions. This was far higher than transactions with banknotes or coins, accounting for ** percent of brick-and-mortar payments in 2024. The UK's share of cash was one of the lowest worldwide, according to both a global survey on cash use across 41 countries and domestic research involving payment diaries across multiple countries. Cash on a decline in the UK Calculations using cash withdrawals and payment transactions indicate that the share of cash in the UK declined the fastest during the coronavirus pandemic. Numbers are estimates as no data exists on non-digital transactions in retail payments. Payment diaries are the only way central banks can map out consumers' use of cash in shops. The numbers provided may still not be accurate, as not all payment data required to make such estimates is readily available. Do digital payments in the UK grow faster than in other countries? The United Kingdom's preference for digital payments over cash is more pronounced than for most of Europe. Europe, however, is not the main region in the world when it comes to digital payments. The number of digital payments in Asia-Pacific will triple between 2022 and 2026, a substantially higher growth rate than in North America and Europe combined. Latin America will see the highest increase in digital payment transaction value between 2021 and 2026, with North America seeing the least.

Weekly and monthly UK credit and debit card payments for a sample of relevant merchants from the Bank of England. These are official statistics in development. Source: Bank of England and ONS calculations.

The number of transactions made using contactless cards in the United Kingdom increased significantly between 2021, but growth slowed down somewhat since. As of May 2025, the total number of transactions made using contactless cards in that month amounted to over *** billion. The value of transactions made using contactless cards also increased in this period.

The monthly value of debit card transactions in the UK picked up in the summer of 2021, but was not as high as in August 2020. The total value of the debit card purchases fluctuated significantly, reaching its lowest value of nearly 41 billion British pounds in April 2020. As of May 2025, the value of debit cards in the UK reached more than 52 billion British pounds.

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Credit Card Payments Market Size 2025-2029

The credit card payments market size is forecast to increase by USD 181.9 billion, at a CAGR of 8.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing prevalence of online transactions. The digital shift in consumer behavior, fueled by the convenience and accessibility of e-commerce platforms, is leading to a surge in credit card payments. Another key trend shaping the market is the adoption of mobile biometrics for payment processing. This advanced technology offers enhanced security and ease of use, making it an attractive option for both consumers and merchants. However, the market also faces challenges. In developing economies, a lack of awareness and infrastructure for online payments presents a significant obstacle. Bridging the digital divide and educating consumers about the benefits and security of online transactions will be crucial for market expansion in these regions. Effective strategies, such as partnerships with local financial institutions and targeted marketing campaigns, can help overcome this challenge and unlock new opportunities for growth.

What will be the Size of the Credit Card Payments Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by advancements in technology and shifting consumer preferences. Payment optimization through EMV chip technology and payment authorization systems enhances security and streamlines transactions. Cross-border payments and chargeback prevention are crucial for businesses expanding globally. Ecommerce payment solutions, BNPL solutions, and mobile payments cater to the digital age, offering flexibility and convenience. Payment experience is paramount, with user interface design and alternative payment methods enhancing customer satisfaction. Merchant account services and payment gateway integration enable seamless transaction processing. Payment analytics and loyalty programs help businesses understand customer behavior and boost retention. Interchange fees, chargeback management, and dispute resolution are essential components of credit card processing. Data encryption and fraud detection ensure payment security. Multi-currency support and digital wallets cater to diverse customer needs. Customer support and subscription management are vital for maintaining positive relationships and managing recurring billing. Processing rates, settlement cycles, and PCI compliance are key considerations for businesses seeking efficient and cost-effective payment solutions. The ongoing integration of these elements shapes the dynamic and evolving credit card payments landscape.

How is this Credit Card Payments Industry segmented?

The credit card payments industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userConsumer or individualCommercialProduct TypeGeneral purpose credit cardsSpecialty credit cardsOthersApplicationFood and groceriesHealth and pharmacyRestaurants and barsConsumer electronicsOthersGeographyNorth AmericaUSCanadaEuropeGermanyUKAPACChinaIndiaJapanSouth KoreaSouth AmericaArgentinaBrazilRest of World (ROW).

By End-user Insights

The consumer or individual segment is estimated to witness significant growth during the forecast period.The market is a dynamic and evolving landscape that caters to businesses and consumers alike. Recurring billing enables merchants to automatically charge customers for goods or services on a regular basis, streamlining the payment process for both parties. EMV chip technology enhances payment security, reducing the risk of fraud. Payment optimization techniques help businesses minimize transaction costs and improve authorization rates. Cross-border payments facilitate international business, while chargeback prevention measures protect merchants from revenue loss due to disputed transactions. Ecommerce payment solutions provide convenience for consumers and merchants, with payment gateway integration ensuring seamless transactions. Rewards programs and buy now, pay later (BNPL) solutions incentivize consumer spending. Mobile payments and digital wallets offer flexibility and convenience. Merchants can accept various payment methods, including cryptocurrencies, and benefit from payment analytics and conversion rate optimization. Payment volume continues to grow, necessitating robust fraud detection systems and multi-currency support. Customer support is crucial for resolving disputes and addressing payment issues. Alternative payment methods cater to diverse consumer preferences. The payment experience is key to customer retention and a

Forecast: Number of Card Payments in the UK 2022 - 2026 Discover more data with ReportLinker!

Weekly and monthly data showing indices of Revolut debit card transaction data, UK. These are official statistics in development. Source: Revolut

Under the Code of Recommended Practice for Local Authorities on Data Transparency, councils are encouraged to publish all corporate purchase card transactions.This dataset contains all of Birmingham City Councils relevant expenditure of more than £500 within our Payments to Suppliers, and will continue to do so. However, in the spirit of the Code, the Council started publishing all purchase card transactions, regardless of value. The information will be published monthly.As with our payments to suppliers, we aim to be as transparent as we can, but in some cases we will need to respect information that could be seen as commercially sensitive or where the payment relates to vulnerable young people or adults. In these cases information is withheld as it is personal data. For further information about personal data, please see https://www.birmingham.gov.uk/foi.If you require further information about any of the payments, please contact foi.mailbox@birmingham.gov.uk setting out the details of the payment and what additional information you require. Such request will be handled under the Freedom of Information Act 2000, and the Council aims to be able to provide a response to your query within 20 working days.Data shown is from April 2021 onwards due to the data from pervious periods missing elements. Directorates may appear multiple times with different naming due to internal changes.Transaction Tax Description Abbreviations:AbbreviationExplanationVRStandard Rate VAT Expenditure (20%)VCVAT Requiring Authenticated VAT Receipt (20%)VZZero Rate VAT Expenditure (0%)VLLow Rate VAT Expenditure (5%)VFReduce VAT Rate (12.5%)VEExempt from VAT Expenditure

DWP payments over £500 using the Government Procurement Card in the month.

The monthly volume of online card transactions made in the United Kingdom (UK) fluctuated between December 2017 and May 2025. The total volume of online card transactions amounted to *** million, an increase of ******percent compared to the same month last year.

All Government Procurement Card spending made by Uttlesford District Council to suppliers for goods and services is detailed in data available here.

All corporate credit card transactions for the London Borough of Barnet.

Under the Code of Recommended Practice for Local Authorities on Data Transparency, councils are encouraged to publish all corporate purchase card transactions. We already publish details of all our relevant expenditure of more than PS500 within our Payments to Suppliers page, and will continue to do so. However, in the spirit of the Code, the Council started publishing all purchase card transactions, regardless of value, from the April 2014 card statement. The information will be published monthly. As with our payments to suppliers, we aim to be as transparent as we can, but in some cases we will need to respect information that could be seen as commercially sensitive or where the payment relates to vulnerable young people or adults. In these cases information is withheld as it is personal data. For further information about personal data, please see birmingham.gov.uk/foi. If you require further information about any of the payments, please contact foi.mailbox@birmingham.gov.uk setting out the details of the payment and what additional information you require. Such request will be handled under the Freedom of Information Act 2000, and the Council aims to be able to provide a response to your query within 20 working days. PLEASE NOTE - FROM JANUARY 2018 EACH MONTHLY PURCHASE CARD PAYMENTS REPORT WILL BE PUBLISHED AS A STANDALONE DOCUMENT. THE LINK BELOW WILL TAKE YOU DIRECT TO THE LIST OF PUBLISHED STATISTICS FROM WHICH YOU WILL BE ABLE TO EXTRACT THE INFORMATION YOU REQUIRE: https://data.birmingham.gov.uk/organization/birmingham-city-council Additional metadata: - Licence: UK Open Government Licence (OGL) [http://reference.data.gov.uk/id/open-government-licence] - Additional Resources: purchasecardsnov2014.xls [https://cc-p-birmingham.ckan.io/dataset/cf552d08-cee9-43bf-8c0f-3196a9311799/resource/d1e4ec86-3ce3-4769-851d-63eda74253bf/download/purchasecardsnov2014.xls], publishspendjanuary2016.xls [https://cc-p-birmingham.ckan.io/dataset/cf552d08-cee9-43bf-8c0f-3196a9311799/resource/d43bc2cd-37f0-410d-9e35-35ff25ef52d2/download/publishspendjanuary2016.xls]

In the United Kingdom (UK), digital wallets were a popular payment method used by ** percent of consumers who made e-commerce payments in 2024. That year, credit and debit cards were both still common options as well. Embracing digital wallets Gen Z, has helped make digital wallets more popular. Growing up with smartphones, the fast, easy, and secure way digital wallets allow payment makes them attractive to use both online and in stores. For many Gen Z shoppers, digital wallets do not just make payments simple, they also offer loyalty programs and special deals. Because of this, Gen Z is shifting away from traditional payment methods, seeing digital wallets as a natural part of their tech-focused lifestyle. This trend will likely keep growing, as its shown through its transaction value worldwide.
Millennials and Gen Z: powerhouses in social engagement Although Gen Z has shown a higher presence when it comes to using social media platforms, Millennials are also avid users and participate on social platforms at the same capacity as Gen Z, at around ** percent respecitvely. Both generation have high frequency of use of such platforms, with around ** percent of them being on social media daily, making social media an important factor to consider when looking at e-commerce customer journeys.

Forecast: Value per Inhabitant of Card Payments in the UK 2022 - 2026 Discover more data with ReportLinker!

All transaction on all corporate credit cards in the financial year 2015/16

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Digital Payment Market Size 2025-2029

The digital payment market size is valued to increase USD 304.95 billion, at a CAGR of 25.5% from 2024 to 2029. Rising number of online transactions will drive the digital payment market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 35% growth during the forecast period.
By End-user - Large enterprises segment was valued at USD 28.10 billion in 2023
By Component - Solutions segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 735.94 billion
Market Future Opportunities: USD 304952.40 billion
CAGR from 2024 to 2029 : 25.5%

Market Summary

The market is a dynamic and ever-evolving landscape shaped by advancements in core technologies and applications. With the rising number of online transactions, the market is witnessing a growing emergence of mobile apps for shopping transactions, now accounting for over 50% of all e-commerce sales. However, this shift towards digital payments also brings challenges, including privacy and concerns related to security. As of 2021, contactless payments are expected to represent approximately 25% of all digital transactions, underscoring the market's continuous evolution. Regulations, such as the European Union's Strong Customer Authentication (SCA) and PSD2, further influence the market, ensuring secure and compliant transactions. Staying updated on these trends and regulations is crucial for businesses aiming to capitalize on the opportunities presented by the market.

What will be the Size of the Digital Payment Market during the forecast period?

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How is the Digital Payment Market Segmented ?

The digital payment industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userLarge enterprisesSMEsComponentSolutionsServicesDeploymentOn-premisesCloudMethodDigital walletsBank cardsDigital currenciesApplicationBFSIMedia and entertainmentIT and telecommunicationHospitalityHealthcareGeographyNorth AmericaUSCanadaEuropeFranceGermanyUKAPACChinaIndiaJapanSouth KoreaSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The large enterprises segment is estimated to witness significant growth during the forecast period.

In today's business landscape, digital payment adoption has witnessed significant growth, particularly among large enterprises in sectors such as banking, securities, finance and insurance (BSFI), information technology, and manufacturing. This trend is driven by the increasing number of transactions and the expansion of BSFI enterprises, as well as the rise of intraregional and cross-border banking activities. Contactless and card-based payments have become the norm in various industries, including modern vending machines, hotels, restaurants, grocery stores, shopping malls, and event management companies. Real-time payment systems, secure data transmission, and regulatory compliance are essential components of these digital payment solutions. Tokenization security, customer onboarding processes, and chargeback management are critical elements ensuring the success of digital payment transactions. Data encryption methods, payment reconciliation, and payment processing fees are also essential considerations. Payment gateway integration, transaction success rates, and payment authorization protocols are key factors in providing seamless and efficient payment processing. Customer support channels, fraud prevention measures, and biometric authentication are essential for maintaining customer trust and satisfaction. Settlement cycle times, two-factor authentication, and mobile payment adoption are ongoing trends in the market. Recurring billing systems, e-commerce payment processing, and dispute resolution processes are crucial for businesses in various industries. API integration services, risk management strategies, payment gateway security, and cryptocurrency integration are essential features for digital payment providers. Merchant acquiring services, omnichannel payment solutions, PCI DSS compliance, and financial transaction security are also crucial elements in the digital payment ecosystem. The market is expected to grow substantially, with a reported 30% of businesses worldwide adopting digital payments in 2021. Furthermore, industry experts predict that the market will reach a value of 7.5 trillion USD by 2026. These trends reflect the continuous evolution of digital payment technologies and their increasing importance in the business world.

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The Large enterprises segment was valued at USD 28.10 billion in 2019 and showed a gradual increase during t

The credit card penetration in the United Kingdom was forecast to continuously decrease between 2024 and 2029 by in total 0.9 percentage points. After the twelfth consecutive decreasing year, the credit card penetration is estimated to reach 60.68 percent and therefore a new minimum in 2029. The penetration rate refers to the share of the total population who use credit cards.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in up to 150 countries and regions worldwide. All indicators are sourced from international and national statistical offices, trade associations and the trade press and they are processed to generate comparable data sets (see supplementary notes under details for more information).