Recent figures from UK Finance highlight a rapid shift in British payment habits during 2024, with cash usage reaching a historic low and alternative payment technologies seeing strong growth. The share of adults living largely cashless has climbed to almost one third, while only 10% of all payments in the UK now involve cash for the first time on record. At the same time, the adoption of buy now, pay later (BNPL) services and mobile wallets such as Apple Pay and Google Pay continued to accelerate.
Key Payment Trends in the UK, 2024
| Payment Method | 2023 | 2024 |
|---|---|---|
| BNPL Usage (Adults) | 14% | 25% |
| BNPL Usage (Aged 55-64) | 10% | 21% |
| Mobile Wallet Usage | 42% | 57% |
| Cash Payments Share | – | <10% |
The average BNPL transaction value is now £114, with fashion purchases accounting for 46% of all BNPL spending. The most notable uptake occurred among adults aged 55–64, where adoption rates more than doubled within twelve months, from 10% in 2023 to 21% in 2024. Commenting on the trend, industry observers have noted, “More and more people are trying [BNPL] … People are dipping their toe in the water and seeing how it works, and it is more widely offered at the point of sale.” [Source]
Mobile wallets, including Apple Pay and Google Pay, are now used by over half (57%) of UK adults, up from 42% the previous year. This change reflects the growing convenience and acceptance of digital payments across retail sectors. For further details on mobile wallet trends, see our coverage of Apple expanding Tap to Pay and our Apple Pay withdrawal guide.
Despite these advances, concerns remain about the speed of transition away from cash. The Link network cautioned, “We must not sleepwalk into a digital-only society before everyone is ready.” Such warnings underline the need for inclusive financial infrastructure as digital adoption increases.
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For a full summary and regulatory updates affecting casino withdrawals and payment methods in the UK, visit our homepage.
