Cash is disappearing: Key UK stats

We’re living through a dramatic shift in how people pay. As cash usage declines, charities that rely on coins and banknotes are feeling the impact, sometimes profoundly. For fundraisers and nonprofit organisations, this change isn’t just about convenience; it’s about sustainability.

The decline of cash in the UK

Cash is no longer the dominant payment method it once was:

• In 2024, cash comprised just 9 % of all payments in the UK, a sharp fall from earlier years. (Source: UK Finance / Reuters)
• In 2023, cash made up only 12 % of payments, hitting a record low. (Source: Reuters)
• Once upon a time, cash accounted for over half of all transactions, now, digital and contactless payments dominate. (Source: UK Finance / Parliament data)
• Charities are losing out: a study by Barclaycard estimated that charities lose £80 million a year in donations simply because fewer people carry cash. (Source: CultureHive / Cause4)
• Because fewer donors carry cash, the chance of someone dropping coins into a donation box or giving cash on the spot has decreased significantly, depriving charities of spontaneous giving.

These numbers show that the decline of cash isn’t a distant future, it’s already here.

How this affects charity income

Charities have traditionally depended on face-to-face fundraising, street collectors, cash donation boxes, and events. But with donors increasingly going cashless:

• Spontaneous giving dwindles, people don’t carry spare change.
• Cash-based operations become inefficient and costly to manage (collecting, counting, transporting).
• Some locations may need to reduce or remove cash collection points because of the logistical burden.
• Poorer or older donors who prefer cash might feel excluded if charities don’t offer alternative ways to give.

In short: charities that don’t adapt risk missing out on vital income, especially from those who would donate if it were easier.

Contactless giving: a solution emerging

The answer is not to cling to cash but to meet donors where they are, in digital and contactless spaces. That’s where GoodBox comes in.

• Charities using contactless donation solutions often see donation volumes increase by ~64 % compared to those relying solely on cash. (Source: GoodBox)
• With contactless giving, a donor just taps or scans, no fumbling for change or carrying cash required.
• Contactless platforms integrate well with data insights, reconciliation tools, and reporting, freeing charities from manual cash processes.
• As fewer people use cash, offering a card, mobile wallet, or QR-code donation option becomes essential to stay accessible and donor-friendly.
• Contactless systems can also unlock larger donations. When people donate via card or phone, they’re not constrained by the limits of coins in their pocket.

In short, contactless giving is not just a nice-to-have, it’s increasingly a necessity.

How GoodBox supports contactless giving

GoodBox helps charities seamlessly move into the digital donation space. We provide:

• Tap-to-give devices and terminals tailored for charities
• QR code donation options
• An integrated portal for donation tracking and analytics
• Bespoke campaign support and tools

We make it easier for donors to give and easier for charities to collect, manage, and report. Visit goodbox.com today if you want to benefit from it.