Worldpay, now operating as Global Payments, has unveiled its 11th annual Global Payments Report (GPR), revealing that digital wallets are fundamentally changing how consumers pay both online and in-store. The report projects that digital wallet spending in the UK will grow from £269billion in 2025 to a massive £453billion by 2030.
This striking 68 per cent increase underlines the rapid, mainstream adoption of the payment method across the country.
A multi-generational shift in payment habits
While younger consumers are predictably leading this shift, the data shows that digital wallet use now spans all generations. For every age group 44 and under, digital wallets are currently the most frequently used online payment method.
Two-thirds (66 per cent) of 18–24-year-olds already name digital wallets as their top payment choice. However, adoption among more mature age groups is proving to be highly significant, reflecting growing trust and familiarity:
The digital evolution of physical cards
Despite the surge in mobile payments, traditional cards are not disappearing—they are simply evolving. While the share of direct card spend is expected to drop 11 per cent online and 8 per cent in-store over the next four years, cards continue to play a crucial role in the underlying payments ecosystem. In 2025, cards still accounted for 46 per cent of online and 69 per cent of point-of-sale (POS) spending.
Because many UK digital wallets are powered by existing physical debit and credit cards, the physical card is witnessing its own digital evolution rather than being displaced entirely.
Pete Wickes, general manager of enterprise EMEA at Global Payments, emphasized the importance of adapting to these steady shifts.
“We’re not seeing a sudden shift away from cards, but a steady evolution in how people choose to pay,” Wickes explained. “Digital wallets are growing quickly because, in the UK, they build on familiar card infrastructure while offering greater convenience and security.”
He added: “As the payments landscape evolves, businesses need a clear view of how customers want to pay. Expectations are moving toward convenience and choice, and merchants who adapt their payment systems to serve every customer will be best positioned to capture the opportunities ahead.”
Cash and BNPL find steady ground
The comprehensive report also reveals a steadying in both the growth and decline of other major payment methods:
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Cash: Spend is expected to see only a modest decline, dropping from 9 per cent of POS transaction value in 2025 to 7 per cent by 2030. This reflects a steady transition toward digital payments rather than a sudden abandonment, with cash retaining its role for low-value transactions and for consumers who value its accessibility.
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Buy Now, Pay Later (BNPL): The alternative credit method is finding a solid footing in the broader payment mix. BNPL is expected to account for 9 per cent of ecommerce transaction value in 2030—up slightly from 8 per cent in 2025—representing a significant £33.4billion in online commerce.
