UK consumers cling to cash as a backup despite digital shift

While only 28% of the 2,107 respondents report using cash at least once a week, the demand for dual-payment accessibility remains high. Digital habits have solidified, with mobile wallets and contactless debit cards now tied as the most popular methods for everyday purchases at 26% each. Chip and PIN transactions account for 18%, while only 10% of users still rely on cash for the bulk of their spending.

Security concerns continue to dictate how these new technologies are adopted. One in five consumers reported experiencing fraud in the past year, with card schemes, phishing, and online shopping scams topping the list. Consequently, 39% of shoppers state that enhanced security is the primary factor that would convince them to try a new payment method, prioritizing protection over convenience or rewards. Emma Banymandhub, CEO at the Payments Association, noted that the data serves as a reminder that consumer choice remains the fundamental driver of market evolution, defying simple predictions of a total digital takeover.