Many consumers want cash and cashless payment options despite declining use of notes and coins
70% of Brits feel it is important that both cash and cashless payment options remain available, according to the Payments Association’s 2026 Consumer Behaviour Survey.
Only 28% of the 2,107 consumers who took part in the research use cash at least weekly and 40% use it less than monthly or never. The results suggest people 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, says: “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, we are pleased to provide some insight and guidance into future strategic imperatives for UK payments.”
2026 RTIH Innovation Awards
Payments will be a key focus area at the 2026 RTIH Innovation Awards.
The awards are now open for entries and celebrate global retail technology innovation in a fast moving omnichannel world.
Our winners will be revealed at the 2026 RTIH Innovation Awards Ceremony, taking place at The HAC in Central London on Wednesday, 4th November.
Check out our 2025 winners here.
Our 2025 hall of fame entrants were revealed during a sold out event which took place at The HAC on 16th October and consisted of a drinks reception, three course meal, and awards ceremony presided over by award winning comedian, actress and writer Tiff Stevenson.
In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “This is the awards’ fifth year as a physical event. We started off with just 30 people at the South Place Hotel not far from here, then moved to London Bridge Hotel, then The Barbican, and last year RIBA’s HQ in the West End.”
“But I’m conscious of the fact that, to quote the legend that is Taylor Swift, You’re only as hot as your last hit, baby. So, this year we’ve moved to our biggest venue yet, and also pulled in our largest number of entries to date and broken attendance records.”
He added: “This year’s submissions have without doubt been our best yet. To quote one of the judges: The examples of innovative developments across both traditional and digital retail spaces were truly remarkable.”
Congratulations to our winners, and a big thank you to our sponsors, judging panel, the legend that is Tiff Stevenson, and all those who attended our 2025 gathering.
