How are payments made in the UK?
Payments UK has released a new report giving an overview of current and future trends in UK payment behaviour. The report, ​UK Payment Markets 2016​, reveals that cash continues to be the most popular method of payment, constituting 45% of all payments in 2015.
It also predicts, however, that by 2025, cash payment will have dropped to make up just one in four (27%) of all payments. The increasing popularity of contactless payments is driving credit, debit and charge card payments to make up a larger share of the total payment market. This is predicted in the report to reach half of all payments (50%) by 2025.