Takepayments recently surveyed 2000 British consumers, aged 16-86, to discover how shoppers prefer to pay in 2025 with questions on carrying cash, payment system downtime, biometric payments and more. The results were then broken down by gender and age and compared to the 2023 version of the survey.
Over half (54%) of the shoppers said contactless is their favourite way to pay in-store — up 14% since 2023. Here are some more headline findings:
In-store payments:
Over half of the participants (56%) still carry cash & cash use in-store is up 26%, since 2023, overtaking mobile wallets as the second most popular in-store payment method.
While most shoppers would still buy from a business that only accepts cash, more than half (52%) say it would be inconvenient. That’s up nearly 20% from 2023 (33%)
66% of over-55s always have cash on them, but even half of 18–24s say they carry it at least some of the time (50%)
45% have abandoned an in-store purchase because the payment system was down.
Out of those who abandoned their purchase, one in three (34%) said they didn’t have cash to pay, 28% said switching to cash from card was too time-consuming and 28% also said that a technical failure made them doubt the safety of the shop’s systems altogether (28%).
Online payments:
Almost two-thirds (62%) prefer debit or credit cards for online shopping over alternative payment methods
72% of those who prefer mobile wallets say they use them because they are the most convenient option. 52% value faster transaction times, while one in five (21%) see them as the safest way to pay online.
Around 15% of shoppers say they wouldn’t complete a purchase online if their preferred mobile or digital wallet option wasn’t available.
Among 18–24s, mobile wallets are now more popular online than traditional card payments – 42% of this age group chose this option as their favourite method
30% said the most annoying thing about shopping online is having to enter card details
72% said they look for the Verified by Visa or Mastercard SecureCode symbol when shopping online
John Clark, product manager at takepayments, said: “The new data highlights the growing importance of offering multiple payment methods to meet customers’ evolving expectations. While mobile wallets and digital payment options are seeing faster and widespread adoption, traditional methods like cash and card payments are still crucial for many shoppers. This also makes them essential for businesses, as failing to provide a variety of payment options could result in lost sales, as customers may turn to other brands that offer more flexibility.
Customers are also more aware of potential security risks than you might think, so making sure your payment systems are secure is crucial. Our survey found that a huge 72% of our participants look for the Verified by Visa or Mastercard SecureCode symbol when shopping online. Displaying well-recognised security symbols and using trusted payment gateways can help reassure customers that their payments are secure. We also discovered that payment system downtime significantly impacts how customers view your security level. Regular payment system testing and a backup plan can prevent any unexpected disruptions whilst also protecting your sales and reputation.”
I hope you find this data useful for your work. Please see the full report I linked to above for more in-depth findings including a look into how gender affects payment method preference, other security measures shoppers look for online & the reasons consumers are apprehensive about biometric payments & open banking.
