Cash payment volume in the UK 2008-2018, with forecasts up until 2028
contactless card transactions. As of 2019, four out of five cards issued in the United Kingdom had a contactless functionality. Using a contactless card spares time and is commonplace for everyday purchases under 30 British pounds.
According to the forecast, the volume of cash payments is likely to rapidly decrease over the next several years. In 2008, there were payments approximately 23 billion cash payments in the United Kingdom, and in just ten years, the number had halved. By 2028, the volume of payments might fall to four billion. The drop in cash payments could be explained with the raising popularity of cashless payment methods such as