Cash share in total payment volume in the UK in 2008 and 2018, with a 2028 forecast
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 share of cash payments of all payments by volume is likely to rapidly decrease over the next several years. In 2008, approximately 60 percent of payments in the United Kingdom were in cash, and in just ten years, the number had halved. By 2028, the share of payments might fall to nine percent. The drop in cash payments could be explained with the raising popularity of cashless payment methods such as