{
  "id": 1837087,
  "title": "Mobile payments on the rise but cash decline slows",
  "url": "https://urgent.news/2026/08/18/mobile-payments-on-the-rise-but-cash-decline-slows-1837087",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T23:04:53.000Z",
  "source": {
    "name": "BBC News",
    "slug": "bbc-news",
    "url": "https://www.bbc.co.uk/news/articles/cd7l9en2qrjo?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "New data reveals a growing trend of consumers using mobile phones for payments instead of traditional bank cards in the UK. According to UK Finance's annual report, two-thirds of adults were registered with at least one mobile payment service last year. The adoption of phone-based payments has surged over the past decade, following the launch of Apple Pay in the UK. While cash usage continues to decline, the rate of decline is slowing, indicating that notes and coins will likely remain a significant payment option for many people in the coming decade.\n\nNine out of ten mobile wallet users have their debit card as their primary payment method on their phone, with the rest registered under their credit card. This suggests that phones are being used for everyday transactions, especially among younger consumers, although older age groups are catching up. Over 80% of 16 to 34-year-olds regularly make mobile payments, compared to 22% of those over 65.\n\nThe UK Payments Market report highlights that debit cards, including those loaded onto phones, accounted for 54% of all payments in 2025. Contactless payments made up 39% of transactions, while cheques have nearly disappeared, now representing just 0.2% of payments made in the UK, with 77 million written last year. Despite the shift towards digital payments, cash is expected to remain relevant, with notes and coins used in 3.9 billion, or 8%, of all payments in 2025. This figure is projected to halve to 4% of all payments in 2035, or two billion transactions.\n\nWhile the UK is moving towards a predominantly digital economy, UK Finance forecasts that cash will not vanish entirely. Instead, the UK will transition to an economy where cash plays a less prominent role but is still valued and preferred by some, particularly those on lower incomes who rely on cash for budgeting. Almost 50 million people used cash machines last year, with Nick Quin from Link emphasizing that cash withdrawals are decreasing nationwide, but many still rely on cash daily. The report concludes that protecting access to cash for those who need it remains crucial.",
  "summary": "Nine in 10 mobile wallet users have their debit card loaded as their default payment method, new data shows.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "BBC Business",
        "title": "Mobile payments on the rise but cash decline slows",
        "url": "https://urgent.news/2026/08/18/mobile-payments-on-the-rise-but-cash-decline-slows",
        "published": "2026-08-18T23:04:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}