Pay by cash? Not for long, report warns.
How quickly is cash use falling?
Cash use has been falling dramatically in recent years. In 2017, debit card use - driven by contactless payments - overtook the number of payments made in cash in the UK for the first time.
The report said that the current rate of decline would mean cash use would end in 2026.
However, it concluded that notes and coins would still be used in 15 years' time, but accounting for between 10% and 15% of transactions.
The demise of cash, if unchecked, would be driven primarily by retailers and other businesses refusing to accept cash owing to the cost of handling it.
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