According to the forecast, the share of cash payments of all payments by volume is likely to rapidly decrease over the next several years. In 2008, approximately 60 percent of payments in the United Kingdom were in cash, and in just ten years, the number had halved. By 2028, the share of payments might fall to nine percent. The drop in cash payments could be explained with the raising popularity of cashless payment methods such as contactless card transactions. As of 2019, four out of five cards issued in the United Kingdom had a contactless functionality. Using a contactless card spares time and is commonplace for everyday purchases under 30 British pounds.
Forecast share of cash payments in the United Kingdom (UK) from 2008 to 2028
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UK Finance. (September 30, 2019). Forecast share of cash payments in the United Kingdom (UK) from 2008 to 2028 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1090890/share-of-cash-transactions-in-the-united-kingdom/
UK Finance. "Forecast share of cash payments in the United Kingdom (UK) from 2008 to 2028." Chart. September 30, 2019. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1090890/share-of-cash-transactions-in-the-united-kingdom/
UK Finance. (2019). Forecast share of cash payments in the United Kingdom (UK) from 2008 to 2028. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1090890/share-of-cash-transactions-in-the-united-kingdom/
UK Finance. "Forecast Share of Cash Payments in The United Kingdom (Uk) from 2008 to 2028." Statista, Statista Inc., 30 Sep 2019, https://www.statista.com/statistics/1090890/share-of-cash-transactions-in-the-united-kingdom/
UK Finance, Forecast share of cash payments in the United Kingdom (UK) from 2008 to 2028 Statista, https://www.statista.com/statistics/1090890/share-of-cash-transactions-in-the-united-kingdom/ (last visited December 22, 2024)
Forecast share of cash payments in the United Kingdom (UK) from 2008 to 2028 [Graph], UK Finance, September 30, 2019. [Online]. Available: https://www.statista.com/statistics/1090890/share-of-cash-transactions-in-the-united-kingdom/
