In 2025, digital wallet spending in the UK is anticipated to expand from GBP 269 billion to GBP 453 billion by 2030, a rise of 68%. This growth suggests that adoption has spread across all age groups, not just younger users.

For individuals aged 18 and below up to 44 years old in 2025, digital wallets emerged as the most popular online payment method. Among those born between 1996 and 2004 (the Generation Z), two-thirds expressed a preference for using digital wallets. Older age groups are catching on too; with 29% of individuals aged 55 to 64, and 23% of those 65 or older indicating the same inclination.

Contextualizing Cards, Cash, and BNPL

While digital wallets are gaining traction, card payments remain the most prevalent method. In 2025, cards account for 46% of online spending and 69% at the point-of-sale (POS). The report projects a reduction in card usage—11% decrease in online transactions and 8% decline in POS. It’s important to note that many digital wallets are built on top of existing debit or credit cards, signifying an evolution rather than a replacement.

Cash is expected to comprise only 7% of the POS transaction value by 2030, down from 9% in 2025. The report suggests that cash will continue to play a role, especially for small-value transactions and those who find it convenient.

Buy Now, Pay Later (BNPL) is forecasted to contribute 9% of eCommerce transaction values by 2030, up from 8% in 2025. This translates to approximately GBP 33.4 billion in online commerce, solidifying its place within the broader payment landscape.

Pete Wickes, General Manager of Enterprise EMEA at Global Payments, observed that as people’s preferences for payment methods continue to evolve, businesses that adjust their payment systems to meet diverse customer needs will be well-positioned to seize future opportunities.