This statistic shows the overall payments made by consumers in the United Kingdom (UK) in 2016 by payment method against a 2026 forecast of how payment method volumes will change. 2016 statistics show that cash is still the most popular method of payment with approximately 15.4 billion payments in 2016. The forecast shows that this is likely to change with cash purchases falling to second behind debit cards, which are forecast to rise from 11.6 billion to 18.2 billion purchases per year in 2026. Contactless debit card payments are set to rise significantly between 2016 and 2025, from 2.5 billion to 9.2 billion uses in 2026. The statistic also shows that traditional forms of payments such as check and standing order will become even more obsolete by 2026.
Number of payments in the United Kingdom in 2016, with a forecast for 2026, by method
(in millions)
* The source adds the following information: "Faster Payments totals include remote banking payments cleared in-house."
**2026 forecast of consumer spending behavior
***The source adds the following information: "The contactless card payments shown here are a subset of the debit and credit card payments, not additional payments."
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Payments UK. (October 1, 2017). Number of payments in the United Kingdom in 2016, with a forecast for 2026, by method (in millions) [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/748499/payments-made-past-and-future-by-method-in-the-uk/
Payments UK. "Number of payments in the United Kingdom in 2016, with a forecast for 2026, by method (in millions)." Chart. October 1, 2017. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/748499/payments-made-past-and-future-by-method-in-the-uk/
Payments UK. (2017). Number of payments in the United Kingdom in 2016, with a forecast for 2026, by method (in millions). Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/748499/payments-made-past-and-future-by-method-in-the-uk/
Payments UK. "Number of Payments in The United Kingdom in 2016, with a Forecast for 2026, by Method (in Millions)." Statista, Statista Inc., 1 Oct 2017, https://www.statista.com/statistics/748499/payments-made-past-and-future-by-method-in-the-uk/
Payments UK, Number of payments in the United Kingdom in 2016, with a forecast for 2026, by method (in millions) Statista, https://www.statista.com/statistics/748499/payments-made-past-and-future-by-method-in-the-uk/ (last visited December 23, 2024)
Number of payments in the United Kingdom in 2016, with a forecast for 2026, by method (in millions) [Graph], Payments UK, October 1, 2017. [Online]. Available: https://www.statista.com/statistics/748499/payments-made-past-and-future-by-method-in-the-uk/
