Cash usage in UK retail rose to 19.9% of transactions in 2023, partly due to the cost-of-living crisis.

Cash usage in UK retail increased for the second year in a row, accounting for 19.9% of transactions in 2023, up from 18.8% in 2022. Debit cards remained the most common payment method, making up 62.0% of transactions. Despite the rise in cash, the average amount spent per transaction fell from £22.43 to £22.03, and card fees paid by retailers rose by over 25% to £1.64 billion. The BRC attributes the increase in cash usage to the cost-of-living crisis, with many consumers finding cash helpful for budgeting.

4 months ago
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