Cash payments across the UK rose for the first time in a decade last year, with around one million people using it for most transactions. Financial experts suggest banknotes and coins are helping Brits weather cost of living challenges.
Data from UK Finance shows the number of transactions using cash increased by seven percent in 2022 compared with the previous year, reaching around 6.4 billion payments. This is around 14 percent of total payments, making cash the second most used option behind debit cards, which have also seen an increase in use and account for 57 percent of transactions.
