Payment methods in United Kingdom
Between 2023 and 2027, the value of British e-commerce will grow from US$305 billion to US$400 billion.
Market takeaways
- Between 2023 and 2027, the value of British e-commerce will grow from US$305 billion to US$400 billion.
- The British spend more online than almost any other European country: US$4,679 per online shopper in 2023, rising to US$6,004 by 2027.
- Brits spend almost US$35 billion a year, more than 10% of the total national online spend, with overseas e-commerce merchants.
- Even in a market like the UK, that loves cards, consumers use digital payment methods in more than 50% of all online transactions.
- British online shoppers use mobile devices in almost 60% of their online purchases, so it pays to make sure your checkout is optimized for mobile.
Population
68.4M
Online population
65M
B2C e-commerce
$285B
Banked population
97%
Credit card population
66%
E-commerce of total retail
30%
Payment method breakdown
- Card46%
- Cash1%
- Bank Transfer9%
- E-Wallet35%
- Other9%
Card scheme breakdown
- Visa77%
- Mastercard22%
- American Express1%
- Local schemes0%
- Other0%
Cross-border e-commerce
Cross-border shoppers
47%
Share of e-commerce
12%
Cross-border value (est.)
$34.2B
Featured payment methods in United Kingdom
Popular options based on coverage and prominence in this market.
All payment methods in United Kingdom
Discover 1 payment methods from around the world
Featured banks in United Kingdom
Major institutions operating in this market.
Industrial and Commercial Bank of China (ICBC)
Beijing, China
ICBC is the world's largest bank by total assets and the largest of China's 'Big Four' state-owned banks. It offers retail, corporate, and investment banking globally.
HSBC Hong Kong
Hong Kong
HSBC is Hong Kong's largest bank and the note-issuing bank of the territory, offering retail, commercial, private, and investment banking.
JPMorgan Chase
New York, United States
JPMorgan Chase is the largest US bank and one of the world's largest financial institutions, offering consumer banking, investment banking, commercial banking, and asset management globally.
HSBC Holdings
London, United Kingdom
HSBC is one of the world's largest banks by assets, headquartered in London with a dominant presence in Asia. It offers retail, commercial, and investment banking in over 60 countries.
Royal Bank of Canada (RBC)
Toronto, Canada
Royal Bank of Canada (RBC) is Canada's largest bank by market cap and assets, providing personal, commercial, corporate, and investment banking in 36 countries.
UBS Group
Zurich, Switzerland
UBS Group is Switzerland's largest bank and one of the world's premier wealth managers. Following its acquisition of Credit Suisse in 2023, UBS now manages over $5 trillion in invested assets globally.
All banks in United Kingdom
Showing 32 of 70 banks
