Wallets are disappearing from daily life with less than half of UK adults now carrying a physical wallet or purse, according to Link’s research.
Age shapes payment habits too as older adults 45 or over lean toward debit cards, while younger groups between 18 and 44 prefer mobile wallets, as reported by Finextra. Even so, over half of people surveyed said they had used cash in the last week.
Relying on digital systems may be the new norm but it heightens concerns around safeguarding access to money as two-thirds of people have faced trouble from payment outages. However, cash usage has been significantly in decline since the last decade with the convenience of fast digital payments changing people’s spending habits.
Digital wallets is a theme at Identity Week America 2025 (10-11 September) as our experts review the potential of increased adoption and innovation across the U.S. to mirror the unified initiative in Europe.
