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(MoneyNewsWire.Net, March 31, 2021 ) According to the latest report by Renub Research, titled "United Kingdom E-Commerce Payment Market & Forecast, by Category (Clothes & Sports, Travel, Electronic, 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.
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The e-commerce market in the United Kingdom continues to witness fast growth, dynamism with innovation. In 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.
Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/united-kingdom-ecommerce-payment-market-p.php
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.
Industry Related Opportunity:
Germany Ecommerce Payment Market: https://www.renub.com/germany-ecommerce-payment-market-p.php
China E-Commerce Payment Market: https://www.renub.com/china-ecommerce-payment-market-p.php
Global eCommerce Market: https://www.renub.com/global-e-commerce-market-p.php
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 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 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 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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Renub Research
Rajat Gupta
Market Research, Bus
rajat.gupta@renub.com
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