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7 in 10 consumers want cash, cashless payment options despite declining cash use

Monday, June 29, 2026 — 16:20:52 (UTC)

Seven in ten consumers want cash and cashless payment options despite declining cash use

The 2026 Consumer Behaviour Survey shows UK payments remain fragmented, with cash still important and security the leading driver of adoption

London – 25 June, 2026 – The Payments Association, a representative body for the payments industry, has found that 70% of UK adults say it is important that both cash and cashless payment options remain available. The findings come from The Payments Association’s 2026 Consumer Behaviour Survey, a nationally representative study of UK consumer payment behaviour in conjunction with YouGov.

The findings reveal a growing gap between how consumers pay and what they want from the payments ecosystem. While only 28% of consumers use cash at least weekly and 40% use it less than monthly or never, 70% believe it is important that both cash and cashless payment options remain available. The results suggest consumers increasingly view cash not as a primary payment method, but as an important fallback option that supports choice, inclusion and resilience.

Day-to-day spending habits continue to shift towards digital payments, with mobile wallets now matching contactless debit cards as the UK’s most commonly used payment method for everyday purchases (26% each). This trend sits as part of a wider variety of payment choices for UK consumers: 26% mainly use contactless debit cards, 26% mainly use mobile wallets, 18% use chip-and-PIN debit cards, and 10% primarily use cash.

Fraud remains a constant concern for UK consumers and continues to shape payment behaviour and innovation uptake. While 76% say they have not been a victim of fraud in the past 12 months, 20% do report having been a victim of at least one type of fraud in the last year. Card fraud (8% of all respondents), phishing scams (6%) and online shopping fraud (5%) are the most common incidents reported.

This concern continues to impact innovation adoption, with consumers being most likely to try new payment methods if they offer better security (39%). When it comes to high-value purchases, security and buyer protection are the leading considerations, outweighing convenience and rewards.

Emma Banymandhub, CEO at The Payments Association, said: “Our latest report reveals striking trends around contactless and cash payments that should serve as a reminder to businesses and payment providers alike that consumer choice drives everything we do. With the UK’s payment habits evolving quickly and not necessarily following the expected digital takeover trajectory that many experts predicted, The Payments Association is pleased to provide some insight and guidance into future strategic imperatives for UK payments.”

The complete dataset and detailed analysis of the findings in the 2026 Consumer Behaviour Survey are available to members of The Payments Association here: thepaymentsassociation.org/article/consumer-behaviour-2026-report/.

ENDS

About The Payments Association

The Payments Association is a community for all companies in payments, whatever their size, capability, location or regulatory status. Its purpose is to empower the most influential community in payments, where the connections, collaboration and learning shape an industry that works for all. It works closely with industry stakeholders such as the Bank of England, the FCA, HM Treasury, the PSR, Pay.UK, UK Finance and Innovate Finance.

Through its comprehensive programme of activities and with guidance from an independent Advisory Board of leading payments experts, The Payments Association facilitates the connections and builds the bridges that join the ecosystem together and make it stronger. These activities include a programme of digital and face-to-face events, including the annual PAY360 and FC360 conferences, The PAY360 Awards dinner, PA@TheCity, CEO roundtables, workshops, webinars, and training activities.

The Payments Association also runs eight stakeholder working groups covering Cross-border, Digital Currencies, ESG, Financial Crime, Financial Inclusion, Merchant Payments, Open Banking and Regulatory. The volunteers in these groups represent the industry and collaborate to ensure their driving issues are addressed effectively. TPA also publishes industry research and insights through Payments Intelligence, including reports, whitepapers, articles, podcasts and video interviews.

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Source: Company press release.

Categories: Reports and research