UK Finance has published a report on payments which shares trends in digital and cash payments in the country. According to their research, debit cards remained the most‑used payment method and card payments accounted for 64 percent of all payments.
Today, the UK has over 100 million contactless debit cards.
Regarding digital wallets, the report states that 65% of UK adults were registered for at least one mobile payment service in 2025, up from 57% in 2024. Usage is clustered around younger consumers.
Cash continues its decline, accounting for around 8% of all payments compared to 9% in 2024. In 2015, cash accounted for 45% of payments.
The report says that while cash usage is going lower, the rate of decline is slowing.
Adrian Buckle, Head of Research at UK Finance, says that payments are entering a new phase of innovation as new technologies could reshape how value is transferred.
The report did not mention stablecoins.
Lynda Clarke, General Manager UK at Nayax, says that card payments are now standard in the UK and payments continue to change.
“Some 19 million people now use cash once a month or less. For them, carrying coins just isn’t part of their normal routine anymore. They expect to tap the card, phone or watch they already have with them, whether they’re buying a coffee, playing an arcade game or using a self-service machine. And these are often spontaneous purchases, so if someone can’t use their usual payment method to buy a £2 or £3 drink or play a game, they’re unlikely to go searching for a cash machine or return later with coins. They’ll simply walk away. One missed purchase might appear insignificant, but repeated across hundreds of customers and payment points, those lost sales quickly add up.”
Clarke says operators need to accept digital payments, but wonder whether cash still needs to remain an option.
“Cash remains important where people genuinely rely on it, but it should be a commercial decision based on how customers actually pay – not something an operator continues to support simply because the machine has always taken coins.”