The value of card payments in the UK has exhibited volatility from 2013 to 2023. Starting at 876.5 billion USD in 2013, it grew steadily with noticeable jumps such as a 19.22% increase in 2016. However, economic disruptions caused a -14.86% dip in 2020. By 2021, a robust recovery of 29.62% was noted, culminating in a value of 1370 billion USD for 2023. The cumulative average growth rate (CAGR) over the last five years hovers around 2.47%.
Future projections indicate a steady yet modest growth rate, with a CAGR of 1.7% anticipated from 2024 to 2028. Key trends to follow include advancements in digital payment technologies, shifts in consumer behavior towards online transactions, and regulatory changes that could impact transaction volumes and values.
