2016支付调查报告（英文版）_16页_2mb

PAYMENTS SURVEY 2016 Summary

Core Content

The BRC Payments Survey 2016 is an annual report that analyzes the sales volumes and values of various payment channels used by UK retailers. It provides a comprehensive overview of how customers are paying for goods, both in-store and online, and assesses the associated costs of payment collection. The survey is based on data from nearly 50% of UK retail sales, which totaled £351 billion in 2016, and includes insights into trends, cost structures, and the impact of regulatory changes.

Main Points

Payment Method Trends

• Cards have become the dominant payment method in 2016, with over 50% of retail transactions made via card for the first time.
• Debit cards have overtaken cash as the most popular payment method by volume, with a 4.5% increase in share to 42.6% of transactions.
• Cash continues to decline in popularity, with its share of transactions dropping by 4.9% to 42.3%.
• Credit and charge cards have seen a modest increase in share, but their value share has decreased slightly, reflecting a broader trend of lower transaction values.
• Non-card payments (e.g., PayPal, coupons, cheques) have grown, reaching £7.8 billion in 2016, which is 2.2% of total retail sales.

Average Transaction Value (ATV)

• The ATV for cash has increased from £9.21 in 2015 to £9.87 in 2016.
• Debit card ATV has decreased from £26.14 in 2015 to £23.38 in 2016.
• Credit card ATV has dropped significantly from £35.91 in 2015 to £32.72 in 2016.
• Non-card ATV has risen from £9.08 in 2015 to £11.10 in 2016.

Cost of Collection

• The average transaction cost for all payment types in 2016 was 5.8 pence, or 0.31% of turnover.
• Cash remains the most cost-effective payment method, with a cost of 1.46 pence per transaction (0.15% of turnover).
• Credit cards are the most expensive, with an average cost of 16 pence per transaction (0.49% of turnover).
• Debit cards cost 5.55 pence per transaction (0.24% of turnover).
• Non-card payments cost 18.89 pence per transaction (1.70% of turnover).
• Total cost of collection for the retail industry in 2016 was £1.1 billion.

Regulatory Impact

• The EU Interchange Fee Regulation (IFR) has led to significant cost savings for retailers and consumers, amounting to £500 million.
• The IFR caps interbank fees for card transactions, but its benefits are not fully realized for all retailers, especially those with high average transaction values.
• Commercial cards are not covered by the IFR, leading to higher fees for retailers.
• There has been a sharp increase in scheme fees, which are not regulated under the IFR, potentially undermining its benefits.
• The BRC has called for regulatory action to bring commercial cards within the scope of the IFR and to address the rise in scheme fees.

Key Information

• Total UK retail sales in 2016 reached £351 billion, up 3.5% from 2015.
• The survey covers 9.5 billion transactions, representing 50% of the UK retail industry.
• Contactless payments have played a key role in the shift from cash to cards, with a third of all card transactions now being contactless.
• Retailers have spent £30 million in 2016 to prepare for the introduction of polymer £5 notes and the replacement of the £1 coin.
• The BRC has advocated for regulatory intervention to ensure that the benefits of the IFR are preserved post-Brexit and to address rising scheme fees.

Summary Table

Conclusion

The 2016 BRC Payments Survey highlights a major shift in payment preferences, with cards now dominating both in value and volume, and cash declining in usage. While the IFR has reduced interchange fees, rising scheme fees and commercial card exclusions have created new challenges. Retailers continue to face cost pressures and increased expenses in processing card payments, especially credit cards, and there is a strong call for regulatory action to address these issues. The survey also underscores the importance of payment technology and the need for continued investment in adapting to new payment methods and regulatory changes.