Payment choice
Importance of cash and cashless options
The debate surrounding cash and cashless payments is often framed as a choice between old and new. However, the findings suggest that consumers view the payments landscape differently, placing greater value on flexibility and access than on the dominance of any single payment method.
Consumers want payment choice
Despite the continued growth of digital payments, most consumers believe that both cash and cashless payment options should remain available. This suggests that consumers do not see the future of payments as a transition from one method to another, but rather as an ecosystem that accommodates different needs, preferences and circumstances.
The findings indicate that accessibility, inclusion and personal choice remain important considerations. While digital payment methods continue to gain popularity, consumers value the ability to choose how they pay, whether for convenience, budgeting, confidence or simply personal preference. As payment habits evolve, maintaining a range of payment options remains central to meeting consumer expectations.
This sets up the section nicely before you introduce the 70% statistic, demographic breakdowns and any analysis of which groups are most supportive of retaining both options.
Findings
Key stats:
The importance of cash and cashless options
Say it is important that both cash and cashless payment options remain available.
Of C2DE (NRS social grade) respondents say having both cash and cashless options is 'very important'
Key insight
The UK is united on payment choice
Support for maintaining both cash and cashless payment options remains high across every region of the UK. Even in regions with the lowest levels of support, a majority of consumers believe both payment methods should remain available, demonstrating that payment choice is a broadly shared priority.
While regional differences exist, they are relatively modest compared with the overall level of agreement. With 70% of consumers nationally supporting access to both cash and cashless payments, the findings suggest that preserving payment choice is viewed as an important feature of the UK’s future payments landscape.
TPA member insights
Expert perspectives on the findings and their implications.
Rahul Verma, Head of Compliance & Financial Crime and MLRO, HY10 Global Limited
“The survey reveals interesting findings. As mobile wallets and wearables gain popularity among younger, affluent, digitally native consumers, the infrastructure gap for older, lower-income, and economically inactive groups quietly widens. With 88% still valuing cash access, only 27% are open to new payment methods, implying two parallel economies. Innovation without deliberate inclusion isn’t progress; it’s displacement. The next payments era will be defined not by the technology we deploy, but by who we choose to bring with us.” - Rahul Verma, Head of Compliance & Financial Crime and MLRO, HY10 Global Limited