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Today's report published by UK Finance complements recent research from LINK that found that digital payments are the default choice across society, not just the young. While the number of people relying on cash continues to fall, we know that those who do are often on lower incomes or the more vulnerable. We must not sleepwalk into a digital-only society before everyone is ready.

There is also a question of resilience for a digital-only payments system, what happens in the case of wide-spread power outage? Digital payment systems need to be stronger and more resilient, and the work led by the Bank of England on the National Payments Vision is an excellent step in that direction.