Access Paysuite has released new research indicating that payment choice continues to play a critical role in consumer purchasing behaviour in the UK.
The findings suggest that almost half of consumers have abandoned a purchase in the last 12 months because their preferred payment method was unavailable, with younger shoppers most likely to walk away. The study, carried out by Censuswide on behalf of the payments solutions provider, surveyed 1,000 UK consumers to assess how generational preferences influence payment behaviour and overall customer experience.
Across the full sample, 45% of respondents reported abandoning a transaction due to payment limitations. The trend intensifies among younger groups, with 65% of Gen Z and 61% of Millennials choosing not to complete a payment when their preferred method was unavailable. In contrast, older consumers demonstrate greater tolerance. Only one in three Gen X respondents and one in four Baby Boomers indicated that they would abandon a purchase under the same circumstances. Nevertheless, the consequences for businesses remain significant: one in three shoppers said they would avoid returning to a business after encountering an unsatisfactory payment experience, and 35% stated that they would actively seek another retailer that offered their preferred payment option. Only 20% said that a lack of preferred payment methods would not affect their future behaviour.
Generational shifts in payment behaviour
The research also confirms a growing generational divide in payment preferences. Digital wallets have now overtaken debit cards as the most frequently used payment method among Gen Z, with 45% relying on them for everyday transactions. Debit cards remain dominant among older groups, with the highest usage recorded among Baby Boomers (66%), followed by Gen X (64%) and Millennials (51%). The findings suggest a sustained shift toward digital payments among younger demographics, driven by expectations of convenience, speed and simple integration with online and mobile platforms.
The importance of choice is widely recognised across all age groups. Approximately 90% of respondents said it is important for businesses to offer their preferred payment method, reinforcing the need for organisations to maintain a diverse payment ecosystem that accommodates a wide range of customer expectations.
Expanded market context and industry data
The shift in consumer behaviour is occurring against a backdrop of wider transformation across the UK payments landscape. According to industry data, digital wallet adoption in the UK has risen steadily, with transaction volumes increasing by double-digit percentages year-on-year. Open Banking payments have surpassed the 10-million-per-month mark, reflecting accelerating consumer acceptance of emerging technologies. Meanwhile, card payments continue to dominate overall spending, accounting for more than half of UK retail transactions, but growth in mobile-initiated payments is outpacing traditional card usage.
