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UK plastic beats cash in 2021

Never mind mobile payments with a phone, debit cards are set to dominate the UK’s near future of shopping.

Cash will finally be surpassed by debit cards as the most popular method of payment in 2021, according to a report from Payments UK. An estimated £14.5bn in debit card payments are expected in 2021 versus £13bn in cash payments, according to UK Payments Markets 2016. Cash accounted for 45.1 per cent of all payments in 2015 but by 2025 coins and notes will be used by just 27 per cent of payments. ®

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