From Gen Z to Retirees: Digital Wallets’ Cross-Generational Rise Will Unlock £453 BN of UK Spend by 2030

WHY THIS MATTERS: This report confirms a pivotal turning point in consumer payments: the digital wallet is officially a multi-generational utility, not just a Gen Z fad. Projected to power nearly £453 billion in UK spending by 2030, this seismic growth underlines a mandatory shift in merchant priorities toward payment modernization. While traditional card payments still account for the majority of transaction volume, the data shows that this infrastructure is simply being subsumed by the digital container—a trend consistent with past years where incremental innovation, rather than outright disruption, has prevailed. For merchants, the value-first takeaway is clear: the future of omni-commerce depends on an optimized digital wallet experience, as consumers aged 55 and up show growing trust, demanding streamlined payment acceptance across all channels. Businesses that delay investment in this frictionless digital layer risk losing substantial market share over the next four years.

Worldpay^®, now Global Payments (NYSE: GPN), today released its 11^th annual Global Payments Report (GPR), revealing that digital wallets are continuing to fundamentally change how consumers pay, both online and in-store. Digital wallet spending is expected to grow from £269 billion in 2025 to £453 billion by 2030^[1] – a significant 68% increase – underlining its rapid mainstream adoption^[2].

A multi-generational shift

While younger consumers lead this shift, digital wallet use now spans all generations. Digital wallets were the most frequently used online payment method for every age group 44 and under^[3]. Two-thirds (66%) of 18–24-year-olds already name them as their top choice, and adoption among more mature age groups is also significant: nearly one-third (29%) of consumers aged 55-64, and almost a quarter (23%) of those aged 65+ say the same, reflecting growing trust and familiarity across generations.

Pete Wickes, General Manager of Enterprise EMEA, at Global Payments, comments: “We’re not seeing a sudden shift away from cards, but a steady evolution in how people choose to pay. Digital wallets are growing quickly because, in the UK, they build on familiar card infrastructure while offering greater convenience and security.

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.”

The changing nature of card use

Despite an expected decline in the share of direct card spend, set to drop 11% online and 8% in-store over the next four years, cards continue to play a crucial role in the payments ecosystem, having accounted for 46% of online and 69% of point of sale (POS) spending in 2025. Moreover, with many UK digital wallets being powered by existing physical debit and credit cards, it’s clear that the physical card is witnessing its own digital evolution, rather than being displaced entirely. 

The sustained growth of card-led digital wallets suggests that UK consumers are most comfortable with payment innovation when it builds on familiar behaviour. This is a trend that the GPR has observed in previous years, showing that incremental innovation often outperforms entirely new payment methods.

A levelling off of cash spend

The report also reveals a steadying in both the growth and decline of other payment methods. Cash spend is expected to see only a modest decline, with this method set to account for 7% of POS transaction value by 2030, down from 9% in 2025, reflecting a steady shift toward digital payments rather than a sudden move away from cash. Despite this decline, cash is expected to retain a role in the payments landscape over the remainder of the decade, particularly for low-value transactions and among consumers who continue to value its accessibility and simplicity.

BNPL finds its footing

At the same time, BNPL is growing and expected to account for 9% of ecommerce transaction value in 2030, up just 1% from 8% in 2025. This will represent a significant £33.4bn on online commerce, suggesting that it is finding its place in the broader mix of payment methods for consumers.

To download the full report, visit: https://worldpay.com/en/global-payments-report

Global Payments completed its acquisition of Worldpay in January 2026.

FF NEWS TAKE This report decisively moves the needle by proving that digital wallets have achieved critical mass across all UK demographics. The stability of cash decline and the slight but steady growth of BNPL indicate a settled, multi-faceted ecosystem. The key factor to watch next is how platforms, including Global Payments, weave in new, non-card-based options—like Account-to-Account (A2A) and embedded finance—into this established digital wallet rail, ensuring the infrastructure keeps pace with consumer expectations for choice and speed.

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