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To Pay Now, or to Pay Later: Consumers Divided on How Best to Manage Their Spending
Overall spending:
- Digital payments have surged in the UK, largely driven by the rise of digital wallets. From 2014 to 2024, the value of e-commerce transactions conducted via digital wallets quadrupled, accounting for £108 billion in spending last year.
This rapid adoption has positioned the UK as the third, behind Denmark and Norway in Europe for online digital wallet use.
Debit and prepaid cards:
- Despite the rise of digital alternatives, UK consumers remain loyal to cards. £1 trillion of total in-store and online spending was conducted using cards in 2024.
In 2024, the share of in-store spending via debit and prepaid cards was almost double that of credit cards, at 46% compared to 24% at POS.
63% of digital wallets in the UK are funded by cards, underscoring their continued role in the UK’s payment infrastructure, despite the growth of digital methods.
- Consumers in the UK are increasingly spending within their means, as at point of sale (POS) spending, debit and prepaid cards accounted for 22% of total transaction value in 2024, up from 15% in 2014*.
- Almost a quarter of UK consumers indicating that budgeting was a motivator for using debit cards in store, rising to almost a third for online use**
BNPL:
- There has been a rapid expansion of BNPL, which has grown from under 1% of online spend in 2014 to account for 7% of online spend in 2024.
It is projected that by 2030 £33bn of UK online spend will be made via BNPL, reflecting a broader shift in consumer purchasing behaviour towards more flexible and digital payment solutions.
Cash:
- Despite a significant decline in cash use, the rate of decline has stabilised and it remains a vital part of the UK payments landscape. It is projected to account for £109 billion (8%) of in-store spending by 2030.
Companies In This Post
- Cloudflare Introduces NET Dollar to Support a New Business Model for the AI-Driven Internet Read more
- Chainlink Advances Tokenized Fund Workflows With Swift Messaging in Collaboration With UBS Read more
- HSBC: Treasurers Expect Tokenisation to Grow Fivefold, as They Take on Expanded Strategic Roles Read more
- EXCLUSIVE: “The Ambiguity of Progress” – Innes MacLeod, Swift Innotribe in ‘Discover Sibos 2025’ Read more
- Small Business Outlook: Juggling Responsibilities, Rapid Change, and GenAI | Shruti Patel, U.S. Bank Read more
Cloudflare Introduces NET Dollar to Support a New Business Model for the AI-Driven Internet
Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced plans to introduce NET Dollar, a new U.S. dollar-backed stablecoin that will enable instant, secure transactions for the agentic web. NET Dollar will help power a new business model for the Internet that rewards originality, sustains creativity, and enables innovation in an AI-driven world.
Chainlink Advances Tokenized Fund Workflows With Swift Messaging in Collaboration With UBS
Chainlink announced today a landmark technical solution enabling financial institutions worldwide to manage digital asset workflows directly from their existing systems using Swift messaging and the Chainlink Runtime Environment (CRE). With Swift messages and CRE, banks and institutions can seamlessly access blockchains through the same Swift infrastructure they have relied upon for decades. This shows how institutions can access blockchains without needing to upgrade to new infrastructure, replace their existing processes, or integrate new identity and key management solutions.
HSBC: Treasurers Expect Tokenisation to Grow Fivefold, as They Take on Expanded Strategic Roles
Treasurers anticipate tokenisation, embedded payments and wallet-based solutions to increase fivefold over the next two years, as they embrace innovative payment models and digital assets in response to an evolving economic environment, according to new research by HSBC.
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Exibex is proud to announce the 33rd global edition of Finnovex Middle East, returning on November 11–12, 2025, in Dubai, the innovation capital of the Middle East. Under the theme “Middle East’s Fintech Metamorphosis: Digital, Decentralized & Disruptive,” this leading summit will convene over 300 banking and fintech leaders, policymakers, regulators, and technology innovators to explore the region’s transformative financial journey.
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Cloudflare Introduces NET Dollar to Support a New Business Model for the AI-Driven Internet
Cloudflare, Inc. (NYSE: NET), the leading connectivity cloud company, today announced plans to introduce NET Dollar, a new U.S. dollar-backed stablecoin that will enable instant, secure transactions for the agentic web. NET Dollar will help power a new business model for the Internet that rewards originality, sustains creativity, and enables innovation in an AI-driven world.
Chainlink Advances Tokenized Fund Workflows With Swift Messaging in Collaboration With UBS
Chainlink announced today a landmark technical solution enabling financial institutions worldwide to manage digital asset workflows directly from their existing systems using Swift messaging and the Chainlink Runtime Environment (CRE). With Swift messages and CRE, banks and institutions can seamlessly access blockchains through the same Swift infrastructure they have relied upon for decades. This shows how institutions can access blockchains without needing to upgrade to new infrastructure, replace their existing processes, or integrate new identity and key management solutions.
HSBC: Treasurers Expect Tokenisation to Grow Fivefold, as They Take on Expanded Strategic Roles
Treasurers anticipate tokenisation, embedded payments and wallet-based solutions to increase fivefold over the next two years, as they embrace innovative payment models and digital assets in response to an evolving economic environment, according to new research by HSBC.
EXCLUSIVE: “The Ambiguity of Progress” – Innes MacLeod, Swift Innotribe in ‘Discover Sibos 2025’
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Small Business Outlook: Juggling Responsibilities, Rapid Change, and GenAI | Shruti Patel, U.S. Bank
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Finnovex Middle East 2025, Middle East’s Fintech Metamorphosis: Digital, Decentralized & Disruptive
Exibex is proud to announce the 33rd global edition of Finnovex Middle East, returning on November 11–12, 2025, in Dubai, the innovation capital of the Middle East. Under the theme “Middle East’s Fintech Metamorphosis: Digital, Decentralized & Disruptive,” this leading summit will convene over 300 banking and fintech leaders, policymakers, regulators, and technology innovators to explore the region’s transformative financial journey.
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