If we look back at the payments landscape in 2009, more than half of transactions in the UK were made by cash. Today, as we approach the latter half of 2024, Statista found that only 10% of point-of-sale (POS) transactions are made with cash. The rise of cashless payments has propelled this dramatic shift, further accelerated by the COVID-19 pandemic, which pushed consumers towards more contactless payment methods. But the transformation doesn't stop at the transition from cash to card. We are now experiencing a significant shift towards instant bank transfers, with Pay by Bank emerging as the future of transactions.