Digital Wallets to Drive £453bn in UK Spending by 2030, Worldpay Report Finds
Digital wallets are rapidly becoming the dominant payment method in the UK, with spending expected to reach £453 billion by 2030, according to a new report from Worldpay, now part of Global Payments.
The latest Global Payments Report shows wallet-based transactions growing from £269 billion in 2025, marking a 68% increase as consumers increasingly shift toward faster, more convenient digital payment options.
Adoption Spreads Across All Age Groups
While younger users remain at the forefront, the report highlights a clear shift across all generations. Digital wallets are already the most commonly used online payment method for consumers aged 44 and under.
Among 18–24-year-olds, 66% say digital wallets are their preferred payment option. However, older demographics are also embracing the technology, with 29% of those aged 55–64 and 23% of those over 65 now choosing digital wallets as their top payment method.
This broader adoption reflects growing confidence in digital payments, extending well beyond traditionally tech-savvy users.
Cards Transition into the Digital Era
Despite the rapid rise of mobile payments, traditional debit and credit cards remain central to the payments ecosystem. Direct card usage is expected to decline modestly—by 11% online and 8% in-store—but cards still accounted for 46% of online spending and 69% of point-of-sale transactions in 2025.
Rather than disappearing, cards are evolving, often serving as the underlying infrastructure powering digital wallets.
Cash Declines Gradually, BNPL Expands
The report also points to more gradual changes in other payment methods. Cash usage is expected to fall slightly, from 9% of in-store transactions in 2025 to 7% by 2030, indicating a steady transition rather than a sharp decline.
Meanwhile, Buy Now, Pay Later (BNPL) services continue to gain traction. Their share of ecommerce transactions is projected to increase to 9% by 2030, representing around £33.4 billion in online spending.
Businesses Face Pressure to Adapt
According to Global Payments, the evolving payments landscape reflects rising consumer expectations for convenience, flexibility and choice.
As digital wallets become more deeply embedded in everyday transactions, businesses that adapt their payment systems to support multiple options are likely to be better positioned to capture future growth.
The report underscores a clear trend: digital wallets are no longer an emerging option—they are becoming a central pillar of how consumers pay.
