The UK ATM card market showed a 2% growth in card volume and a 2% in transaction volume from 2011 to reach 167 million cards and almost 3 billion transactions in 2012.
Plastic cards have changed the way that we pay for goods and services and today, most consumers pay for at least half their purchases with a plastic card.
The forerunners of plastic cards are a long way from the sophisticated and widely-accepted cards that we are now accustomed to but, none-the-less, laid the foundations for the convenience and ease-of-use that we now enjoy.
As most ATM cards are also credit or debit cards, the competitive landscape in United Kingdom ATM cards market reflects the status of the overall UK cards market, which sees Barclays, Royal Bank of Scotland and Lloyds as the leading players.
Transaction value increases by 2% in current value terms in 2012 as consumers switched to cash to better control their budget, however, use of cash is expected to decline, with constant value of cash transactions expected to fall by over 17%, as new payment methods such as contactless and mobile payments become more popular, and e-commerce in general becomes more widespread.
Contactless payments are expected to have the largest impact on the use of cash, as around over 22 million contactless cards are in circulation in the UK in 2012 and the number of banks which are committed to add a contactless facility to their cards expanded to include not only Barclays but also HSBC, Lloyds TSB and Royal Bank of Scotland.
For more information on the UK ATM card market, see the latest research: UK ATM Card Market
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