Half of UK adults now pay on mobile
It shows that new banking data, half of the UK adults now pays something regularly by touching their phones.
An increase in the use of mobile payments through services such as Apple Pay or Google Pay, in different age groups, the figures of the Trade Body UK Finance Show were recorded.
“People are more comfortable than leaving their homes with their phones,” said Adrian Buckle, President of the Research President. He said.
Authority, “Change in consumer behavior”, last year, 50% of adults at least once a month used mobile payments – 2023’te 34%, he said.
Consumers gradually store their card details on phones or hours and make contactless payments that are backed up by face or fingerprint verification instead of pressing a needle.
78% of the ages aged 16 to 24 used mobile payment last year and more are registered to use them.
Old age groups are gradually choosing this option. For example, about two -thirds (59%) aged 35 to 44 regularly made mobile payment from 38% in 2024 compared to the previous year.
One -fifth of those who are 65 years and older (19%) are paid by phone.
Although bank cards are the most popular way to pay, the proportion of adults using physical contactless cards fell slightly. It continued to be less common in cash transactions – but about 50 million people still used ATMs.
“Cash has fallen below 10% of all payments,” Buckle said. “These changes were not only directed by young consumers. We have seen growth in mobile wallets and now we have paid in older age groups and emphasized how digital payments have become more general throughout the board.”
In 2023, when household financing was stretched, the number of people using cash was taken because it helped them budget.
This number fell last year, but the campaignists say that notes and coins should remain part of the mixture for consumers.
Adrian Roberts, Deputy General Manager of Link, who controls the Cash Access and ATM network, said, “While the number of people who trust in cash continues to decrease, Adrian Roberts, who controls the cash access and ATM network, said,” We know that those who do are generally lower income or more vulnerable. “He said.
“We shouldn’t just be sleeping on a digital society before everyone is ready.”
He said that there were questions about flexibility only for a digital payment system, such as backup options during a common power outage.
MPs at the Treasury Committee said that there should be shops and services in the near future. Forced to accept cash In the future, to help protect vulnerable people who trust him.
Meanwhile, British financial regulators of banks and card providers Determine your own limits in contactless card payments Or it is allowed to completely remove the existing 100 pounds payment limit.
This makes it more rare to enter a PIN, because smartphones – with extra built -in security – there is already no limit to contactless payments through a digital wallet.
