Abstract
Introduction
The UK payment card market is dynamic and ever shifting, as issuers adopt
different strategies to compete. Featuring detailed consumer data for the very
first time, this brief provides up to the minute intelligence on how all of
the competitors in the UK market are performing, with granular market share
data and analysis of the key market developments.
Scope of this research
- Includes figures for all of the major UK credit issuers including number
of cards, frequency of use, transaction values,and balances outstanding.
- Features detailed consumer behaviour data at the card issuer level, from
Datamonitor' s proprietary Financial Services Consumer Insight survey
- This brief includes up to date information on changes within the private
label and prepaid cards markets.
- An analysis of the key developments in UK plastic cards is included, with
real world examples of the strategies being followed by the leading players.
Research and analysis highlights
Lloyd' s Group has now become the leading player in the UK credit card market
following its acquisition of HBOS. However Lloyd' s faces stiff competition
from more pro-active players such as Barclaycard and Tesco Personal Finance.
Consumer behaviour data shows that cards that incentivise consumer have higher
usage rates, particularly for day-to-day transactions. However these cards
also hold higher repayment levels, limiting their profitability for issuers.
While up to 50% of Barclaycard cardholders pay off their balance in full each
month, repayment rates range from 83% to 18% across different issuer brands.
With unemployment growing repayment levels are likely to drop in the near
term, with up to 6% of cardholders reporting they made no payments on their
balances outstanding in June 2009
Key reasons to purchase this research
- Stay ahead of the competition with up to date market data on all of the
major UK issuers in credit, debit, private label, and prepaid cards.
- Delve deeper into realworld cardholder behaviour and understand not just
what cards consumers have, but what they do with them.
- Move with the market by understanding what todays market leaders are
doing, and how others are adapting to a changing environment.
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