United Kingdom
With the UK being at the international forefront of Fintech, as well as a major market in Payment innovation, Intercash can offer an abundancy of local solutions to help cater to and grow our client’s position in the UK Market.
The United Kingdom has historically had a highly developed economy, and that trend continues today; it is the sixth-largest national economy in the world measured by nominal gross domestic product (GDP), ninth-largest by purchasing power parity (PPP), and 22nd largest by GDP per capita, comprising 3.3% of world GDP.
The UK is one of the most powerful economies in the world. While the fallout from Brexit is still unclear, it has already had an impact on ecommerce; UK consumers are world leaders when it comes to mobile shopping. Additionally, debit cards are quite popular, with the average consumer holding between 2-3 cards per person. Cards account for nearly 90% of all online payments, while online banking is virtually non-existent.
With regards to industries, financial service verticals remains significant for the region, with London, England currently the second-largest financial center in the world. As one of the most globalized economies in the world, the UK has a strong need for global payment solutions.
About the United Kingdom
Solution
GBP currency
Faster payments
Domestic bank transfers
Domestic issuing and rates
Overseen by FCA
FX services to convert GBP to dozens of other currencies
Domestic ATM services
Contactless payments for TFL
Localized support
Local credit card and cash top-ups
Visa and Mastercard Issuing options
Population
67.5 million
Gross domestic product
€2.2 trillion
E-commerce market value
€178.5 billion
Mobile commerce market size
€91 billion
Mobile commerce as a percentage of e-commerce market size
51%
Internet penetration
94.7%
Smartphone penetration
70.8%
Bank account penetration
96.4%
Card penetration per capita (debit & credit)
2.48
Overview
Preferred e-Commerce Methods
E-commerce completed on a mobile device
€91 billion
Mobile commerce completed in-app
€39.6 billion
Mobile commerce completed on a browser
€51.4 billion
With local solutions available in the region, Intercash can support your business in the UK.
