Contactless, Mobile, Online And Prepaid In The Uk - Market Research Report On Aarkstore Enterprise

Introduction

Introduction

With alternatives to cash payments finally beginning to gain traction amongst consumers, the UK market is poised for rapid developments in the contactless, mobile, online and prepaid card spaces. This report provides a snapshot of how these emerging sectors stand in 2010, including market shares, consumer attitudes, and new product innovations.

Scope

*In-depth analysis of the opportunity in contactless, mobile, online and prepaid payments in the UK.

*Outlines the latest developments within these markets, including prepaid market share data and other key product innovations.

*Real world insight into consumer attitudes and behaviour in online payments based on Financial Services Consumer Insight Survey.

*Highlights the strategies of key market players and examines how these are likely to develop in the future.

Highlights

While contactless payments are gaining a higher profile, actual consumer usage remains very low. As of March 2010 there were 9 million contactless payment cards and 24,500 contactless POS terminals in circulation, however this accounts for less than 6% of all cards, and 2% of POS terminals.

Mobile payments remain in an early stage of development with no key player yet emerging. Mobile network operators however are now beginning to enter the payments space, via prepaid and credit cards, in an attempt to gain an early foothold in the market. Growth in the near term will stem from m-commerce and P2P payments.

Prepaid continues to be a high growth sector in the UK and is now beginning to gain visibility with a mass market audience. Traditionally appealing to non-standard consumers, prepaid corporate incentive and travel cards are likely to prove major avenues for growth in the coming years.

Reasons to Purchase

*Learn how the market is taking shape within the contactless, mobile, online and prepaid space, and what this means for your company.

*Analyse the case for where you should be investing and the potential risks and rewards of each of these rapidly evolving markets.

*Understand why these developments are so critical to the future of payments, and avoid being left behind by the competition.

Table of Contents :

Overview 1

Catalyst 1

Summary 1

Table of Contents 2

Table of figures 3

Table of tables 4

Alternative Payments Are Gaining Ground in the UK 5

Contactless Payments Are Coming, But Not Yet 6

Definition of contactless payments 6

Contactless cards offer speed and convenience to consumers 7

The potential opportunity for contactless cards in the UK is up to 97.4 billion 8

Petrol sales provide the most potential for contactless payments in the UK 9

Contactless payments are being driven by Oyster and Barclays in the UK 11

Oyster proves that UK consumers are willing to use contactless ticketing 12

Barclaycard is the driving force behind UK contactless payment cards 14

Mobile Payments Are Focused on m-commerce and P2P Transactions 17

Mobile payments can be divided into P2P, m-commerce, and NFC payments 17

Mobile commerce and P2P applications are growing 18

Card issuers and MNOs in the UK are teaming up for a likely future push into mobile payments 19

Orange and Barclaycard are explicitly planning to launch mobile payments by 2012 19

O2 also has a card up its sleeve 21

Online Payments Are Dominated by Debit and Credit 23

Credit and debit cards account for 85% of online transactions by value 25

The most frequent online shoppers are the most likely to pay by credit card 27

Consumers spend the most on airlines and hotels, but shop more frequently for DVDs and games 29

The top quintile of consumers account for at least half of all online sales in nearly every merchant category 32

Convenience is more important than security when shopping online 33

Prepaid Cards Are Growing Beyond the Underbanked 37

Unlike other payment cards, prepaid cards typically require a program manager 37

Prepaid cards exist in a variety of forms, targeted at specific audiences and needs 38

Revenue streams for prepaid cards are based on fees and float interest 41

The UK prepaid card market is dominated by small- to mid-size players 42

Fraud remains a concern for the UK prepaid market 43

Mid-size banks and building societies are the largest issuers of prepaid cards in the UK 44

Appendix 49

Supplementary data 49

Online payments 49

Prepaid 53

Definitions 53

AAGR 53

APACS 53

Average transaction value 53

Balances outstanding 54

Bank of England base rate 54

CAGR 54

Charge card 54

Credit card 54

Debit card 54

Decoupled debit 54

Float 55

Prepaid card 55

Methodology 56

Primary research 56

Secondary research 56

Further reading 56

Ask the analyst 58

Datamonitor consulting 58

Disclaimer 58

For more information please visit :

http://www.aarkstore.com/reports/Contactless-Mobile-Online-and-Prepaid-in-the-UK-52733.html

by: Aarkstore Enterprise

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