Looking ahead
Industry implications
The findings highlight a payments landscape shaped by digital adoption, consumer choice and security, creating both opportunities and challenges for organisations across the payments ecosystem.
The findings reveal a payments landscape that is becoming increasingly digital, but not necessarily simpler. Consumers are embracing new payment technologies while continuing to prioritise choice, security and trust. For organisations across the payments ecosystem, success will depend on balancing innovation with consumer expectations and delivering payment experiences that are flexible, secure and inclusive.
Digital adoption continues to accelerate
Mobile wallets now match contactless debit cards as the UK’s most-used payment method for everyday spending, reinforcing the shift towards digital-first payment experiences.
Consumers still value payment choice
Despite declining cash usage, 70% of consumers believe both cash and cashless payment options should remain available, highlighting the importance of flexibility and accessibility.
Security remains the foundation of trust
Security is the leading factor influencing adoption of new payment methods and a key consideration for high-value purchases, demonstrating that trust remains central to payment innovation.
One size no longer fits all
Significant differences across age groups, social grades and regions show that payment preferences are increasingly fragmented, requiring more targeted customer strategies.
Innovation must deliver clear benefits
Consumers are willing to adopt new payment methods when they offer tangible advantages, particularly improved security, convenience and user experience.
The future is hybrid, not binary
The survey suggests the future of payments is not a choice between cash and digital, cards and wallets, or old and new technologies. Consumers are increasingly using multiple payment methods depending on context, purchase type and personal preference.