Payments UK has published its annual report on the British Payments Market. The report compiles a number of interesting facts:
On average, a UK adult makes 54 payments per month. Half of those are made in cashMoney in physical form such as banknotes and coins. More. Debit cards are the second most widely used instrument with 16 payments per month. Contatcless only account for two transactions per month.
38.2 billion payments were amde in the UK in 2015. 9 out of 10 are made by consumers.
45% of payments are made using cash.
2.2 million consumers rely mainly on cash for their day-to-day transactions.
The number of cash payments is expected to fall over the next ten years.
In 2025, cash will account for 11.3 billion transactions and represent the second moset widely used payment instrumentDevice, tool, procedure or system used to make a transaction or settle a debt. More, overtaken only by debit cards.