UK consumers had a tendency to use card even for small, every day purchases (under ** GBP, for instance), according to research findings on payment methods in the United Kingdom (UK). Use of cash was the least prevalent when consumers were paying for larger product purchases, such as electronics.

The number of payment transactions at point of sales (POS) terminals with cards issued in the United Kingdom (UK) from 2009 to 2019 saw a year on year increase. As of 2019, over 20.4 billion POS payments with local cards were made in the United Kingdom. In that same year, there were around 99 million payment cards with a debit function issued in the United Kingdom.

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 April 2020, when less than one billion transactions took place. However, since late 2021, this trend has reversed, showing an overall increase despite some fluctuations, and as of February 2025, there were almost 1.9 billion credit and debit transactions made in the UK.

The number of debit card transactions made in the United Kingdom (UK) from 2013 to 2019 has seen a steep increase over this period of time. In 2018, the number of debit card payments amounted to approximately 19 billion transactions, while it rose with more than a billion a year later (around 20.7 billion). While cashless payment methods such as this one have risen in the United kingdom, more traditional forms of payment such as checks become less popular each year.

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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

Visa's market share in the UK decreased **** percentage points between 2022 and 2023, although it remained the country's biggest payment card brand. It is assumed that most payments conducted with these two brands are credit cards, although contactless debit cards payments do play a big role in the United Kingdom. For example, approximately **** million debit cards with the ability to make contactless payments were issued as of October 2019.

This contains details of transactions that Leicester City Council makes using a Government Procurement Card.This data will be published quarterly.

The value of payments made with cards that have a credit function in the United Kingdom (UK) from 2013 to 2019 increased with some fluctuation during the period observed. In 2013, the value of payments amounted to over 152 billion euros. By 2019, this had increased to over 206 billion euros. This is an increase of over 50 billion euros. In the United Kingdom, there are more credit cards than there are inhabitants (1.1 credit cards per capita in 2019).

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.

Since contactless cards were first introduced in 2007, their popularity has been growing. At first, only credit cards could be contactless but in 2009 contactless debit cards also became available. As of October 2019, 83 percent of the credit and debit cards in the UK had contactless payment function. In comparison, as of 2012, five years after the rollout, only 20 percent of the cards were contactless.

The Brazilian cards and payments industry has increased in terms of available products and services. This follows heightened competition between leading domestic and foreign banks. Consequently, customers benefit as banks offer improved products and services in a bid for customer acquisition and retention. Read More

GlobalData’s 'The Cards and Payments Industry in Indonesia: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Indonesia's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, payment cards and cash transactions during the review period (2010–2014). Read More

The credit card market in the CEE region has seen growth over time, when together with its accelerating relationship with Western Europe, the demand for a variety of financial services on the market has also increased. The payment cards sector has been among the first to grow, but the dynamic of that growth was different in different countries. For many markets listed, the regulatory and financial support afforded by the European Union membership provided strong potential for sustained credit card market growth. For example, for Czechia, the penetration of credit cards was ** percent in 2019. However, a relatively high penetration (in the context of the region) was also observed in two of the non-EU economies of the region: Russia and Ukraine.

Credit card ownership in Europe

In 2017, the share of the adult population in European countries with a credit card varied between eight percent in Albania to as high as ** percent in Norway. Using a credit card allows the cardholder to pay for goods and services with the agreed promise to the card issuer that they will repay the amount borrowed either in installments or as a single payment. In Europe, the main form of electronic payment is using a debit card.

Card payments in Europe

In Europe, the rise in payment cards has continued to go from strength to strength. As of 2018 (excluding the UK), the number of card payments in Europe was almost 55 billion. 2016 saw the highest annual increase in card payments in Europe.

GlobalData’s 'The Cards and Payments Industry in Kazakhstan: Emerging Trends and Opportunities to 2019' report provides detailed analysis of market trends in Kazakhstan's cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, credit transfers, direct debits and payment cards during the review period (2010–2014). Read More

Hungarian consumers performed roughly 13 credit card payments per capita in 2020, a decline when compared to 2019. This according to estimates based off credit card figures from the country's central bank. No information is provided why this number went down in the country during the first year of the coronavirus pandemic. Arguably, this could coincide with a trend in the UK of paying off credit card debt during lockdown.