Overview

• Link’s new report finds only 48% consider carrying a physical wallet essential, though 82% still own one.
• One in nine adults habitually goes out with only a digital wallet, rising to 29% among those aged 35 to 44.
• Payment breakdowns are widespread, with 61% reporting failures that led some to abandon purchases or rely on others.
• Many users lack backups as 40% of digital wallet holders store just one card and 60% carry only a digital wallet.
• Despite the shift, 51% used cash in the past week, and Link urges keeping a cash reserve, diversifying payment options, and notes the Bank of England’s National Payments Vision work.