United Kingdom E-Commerce Payment Market will be US$ 203.08 Billion by 2026

According to the latest report by Renub Research, titled “United Kingdom E-Commerce Payment Market & Forecast, by Category (Clothes & Sports, Travel, Electronics, Others), Payment Method (Bank Transfer, Card, D-Wallet, & Others), Bank Analysis” This form of electronic payment, which does not include the use of cheques or cash, is classified as an e-commerce electronic payment mechanism and is often referred to as an online or mobile payment network. If an individual buys goods and services online, they pay for them via an electronic platform. By and paperwork, shipping costs, and labour costs, paperless e-commerce systems has revolutionized payment collection. These platforms are often user-friendly, require less time than manual processes, and allow businesses to broaden their consumer base. The most frequently used e-commerce payment systems are credit/debit cards, smart cards, money payments, mobile, or online banking. According to Renub Research Report, the United Kingdom Ecommerce Payment Market is projected to hit US$ 203.08 Billion by 2026.

United Kingdom E-Commerce Payment Market will be US$ 203.08 Billion by 2026

The e-commerce market in the United Kingdom continues to witness fast growth, dynamism with innovation. In the UK, the most popular option for shoppers is to use a credit card. Cards (both debit and credit) continue to be the most common payment form in the e-commerce world. The growth rate in mobile commerce makes it impossible to neglect this sector. It is expected to outpace total e-commerce growth in the United Kingdom.

Due to advanced technologies and a dynamic payments industry, the UK is, without a doubt, a big e-commerce market that tends to set standards for others to follow. The widespread and increasing customer adoption of technology and smart devices is driving this growth. In the United Kingdom, more than 95% of households today have a cell phone. Companies in the United Kingdom seek to make payment systems more user-friendly so that users do not feel intimidated when shopping on the internet by reducing the number of fraudulent purchases with advanced security features.

COVID-19’s Effect on United Kingdom E-Commerce Payment Market

This pandemic had a considerable impact on the UK’s eCommerce payment market. In the year 2020, online sales of food and grocery products are projected to rise dramatically. People were hesitant to leave their house due to the coronavirus, so they focused more on home delivery of products through online ordering.

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Market Summary:

By Category: This research report covers the market of Travel and Holiday Accommodation, Tickets for Events, Clothes & Sports Goods, Books/ Magazines/ Newspapers, Computer Software, Household Goods, Food/ Groceries, Films and Music, Electronic Equipments, Computer Hardware, Medicines, Others.

By Payment Method: The market of Digital Wallets, Bank Transfer, Cash, Card, Direct Debit and Others are covered in this research report.

By Digital Wallet: This research report covers the analysis of AmazonPay Paypal, SamsungPay, & GooglePay in this report.

By Bank Analysis: Company Overview, Products/Initiatives and Financial Insight of Barclays, HSBC, Royal Bank of Scotland & Santander, Lioyd Banking Group are given in this research report.

About the Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide a wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Healthcare, Travel and Tourism, Food & Beverages, Power & Energy, Information Technology, Telecom & Internet, Chemical, Logistics & Automotive, Consumer Goods & Retail, Building and Construction, & Agriculture. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Our core team is comprised of an experienced people holding graduate, postgraduate and PhD degrees in Finance, Marketing, Human Resource, Bio-Technology, Medicine, Information Technology, Environmental Science and many more. Our research helps to make the business decisions: on strategy, organization, operations, technology, mergers & acquisitions etc. We support many blue chip companies by providing them with findings and perspectives across a wide range of markets. Our research reports offer a blend of information insight, analysis and forecasting that is essential in today’s ultra-competitive markets.

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UK E-Commerce Payment Market Analysis Report by Renub Research

The United Kingdom e-commerce sector continues to be one with high growth, innovation and dynamism. Cards transactions are the primary solution while entering the UK. Cards (Credit & Debit) remain the predominant payment method within the e-commerce space. The rate of growth in mobile trade also makes it difficult to overlook this segment: it is expected to outstrip growth in e-commerce overall in the UK. United Kingdom eCommerce Payment Market is expected to be US$ 203.08 Billion by 2026, according to Renub Research analysis.

United Kingdom Video Game Market Share

The UK is, without a doubt, a major e-commerce market, and one that continues to set trends for others to emulate, due to advanced technology and competitive payments market. This growth is driven by widespread and growing consumer acceptance of technology and smart devices. The United Kingdom now has more than 95% of household with mobile phones. Companies in the UK are looking to ease the payment method for the users. So that the users have no fear while doing a transaction on the internet and it also minimizes the fraud transactions.

Digital wallets are catching up fast and are increasingly powered by e-commerce transactions. They are expanding at twice the pace of cards, driven in part because customers believe brands like PayPal offer durable protection. PayPal dominates digital wallet payments in the UK, thwarting attempts by rival Apple Pay to become a more significant player.

Impact of COVID-19 on United Kingdom Ecommerce Industry

COVID-19 pandemic had a profound impact on the ecommerce payment market in the United Kingdom. Purchase of food & grocery items via online medium has shown good growth in the year 2020. As due to coronavirus, peoples were reluctant to leave their homes and have relied more on home delivery of items by online ordering.

Renub Research report titled “United Kingdom E-Commerce Payment Market & Forecast, by Category (Clothes & Sports Goods, Travel and Holiday Accommodation, Household Goods, Films and Music, Tickets for Events, Books/ Magazines/ Newspapers, Computer Software, Food/ Groceries, Electronic Equipments, Computer Hardware, Medicines, Others), Payment Method (Bank Transfer, Card, Digital Wallets, Cash, Direct Debit and Others), Companies (Amazon, eBay, Asos, Argos, and Tesco)” studies the United Kingdom ecommerce payment industry.

Request a free Sample copy of the report: https://www.renub.com/request-sample-page.php?gturl=united-kingdom-ecommerce-payment-market-p.php

By Category – The Report Studies the Market of the following 12 Categories:

  1. Clothes & Sports Goods
  2. Travel and Holiday Accommodation
  3. Household Goods
  4. Films and Music
  5. Tickets for Events
  6. Books/ Magazines/ Newspapers
  7. Computer Software
  8. Food/ Groceries
  9. Electronic Equipments
  10. Computer Hardware
  11. Medicines
  12. Others

By Payment Method – This report covers 5 types of Ecommerce Payment Market in Germany

  1. Bank Transfer
  2. Card
  3. Digital Wallets
  4. Cash
  5. Others

All the Companies covered in the report has been studied from 4 viewpoints

• Overview
• Initiatives & Recent Developments
• SWOT Analysis
• Revenue

Companies Covered in this Report

  1. Amazon
  2. eBay
  3. Asos
  4. Argos
  5. Tesco

About Company:

Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.

Contact Us:
Renub Research
Phone No: +1 678-302-0700 (USA) | +91-120-421-9822 (IND)
Email: info@renub.com
Web: https://www.renub.com
Follow on Linkedin: https://www.linkedin.com/company/renub-research