Convenience drives digital payments, but cash remains vital

Digital payments are now the preferred, most convenient method for many, leading over half of people to leave their physical wallets at home. This increased reliance on digital systems leaves consumers vulnerable to disruptions, as recent high-profile technology failures have demonstrated. Cash, however, remains a trusted and essential payment method for many. Despite the shift to digital, over three in five people still use cash weekly, and nearly a quarter are digitally excluded, highlighting the continued importance of physical money as a backup.