Cash made up 9% of payments in 2024, down from 23% in 2019 and 48% in 2014, UK Finance said. UK Finance said that, in a similar way to how contactless payments have replaced some low-value payments in physical cash, contactless mobile payments appear to be replacing contactless payments initiated using a physical card. ‌Around 16.9 million adults used cash once a month or less last year, while 1.2 million mainly used cash, UK Finance said. Nearly a fifth (19%) of people aged 65-plus rarely used cash (using it once a month or less frequently), compared with 40% of 16 to 24-year-olds. ‌Looking ahead to 2034, cards are expected to remain the most popular way to pay, accounting for around 67% payments, UK Finance said.