As of 2023, the UK had 2.63 cards per inhabitant with a cash function. According to projections for 2024-2028, the number will slightly decline from 2.63 in 2024 and 2025 to 2.61 by 2028, reflecting a slight decrease of approximately 0.4% over five years (CAGR).
Future trends to watch for include:
- Continued digital payment adoption potentially impacting physical card usage.
- Increased emphasis on financial technology solutions might alter traditional banking habits.
- Regulatory changes and consumer behavior shifts in response to economic conditions could further influence cash function card usage.
