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Learn moreNov 2020
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The popularity of debit payments has further accelerated in 2020, maintaining its position as the leading payment type in the UK. The COVID-19 pandemic and its consequences significantly contributed to the double-digit increase in the number of transactions, with many retailers only accepting card and device payments in order to eliminate contact and make payments safer.
Despite the total debit transactions value remaining flat between 2019 and 2020, personal debit card transactions value continued to increase, boosted by record growth in online purchases during the lockdown. However, commercial debit card transactions value recorded a strong decline in 2020 as a result of a pause in the operations of many businesses, resulting in a drop in business travel and expenditure, due to the lockdown.
Despite the segmented nature of debit cards in the UK, it still has potential, which is reflected by new issuers entering the category. For example, Monzo, formerly issuing pre-paid cards, switched the majority of its accounts to current accounts in 2018.
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Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in United Kingdom with research from Euromonitor's team of in-country analysts.
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If you're in the Debit Transactions industry in United Kingdom, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Debit Transactions in United Kingdom, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.