The Shift to Mobile POS & Cashless Payments Across the UK & Europe

Across the UK and Europe, the Payment landscape is evolving fast - and the shift away from cash is no longer a prediction, it’s happening in real-time. From mobile POS systems to digital wallets and embedded finance, businesses and consumers alike are embracing new ways to move money.

At Payme Swiss, we’re always looking at where the world is going - and how financial infrastructure can support more flexible, secure, and human-friendly Payment experiences.

The Steady Decline of Cash

Let’s start with the obvious: cash is on the decline.

According to the European Central Bank,  just 59% of transactions in the Euro area were made in cash in 2022 - down from 79% in 2016. In the UK, cash Payments fell by 35% between 2020 and 2022, with contactless now accounting for almost 60% of all UK Payments (UK Finance, 2023).

While cash still plays a role - particularly in rural areas and for some demographics - the shift is clear: digital is becoming default.

Mobile POS: The Enabler of On-the-Go Payments

One of the driving forces behind the cashless wave is the rise of mobile POS (mPOS) systems - portable devices or apps that let businesses accept card or wallet Payments without traditional tills.

For small businesses, startups, and mobile vendors, mPOS has made accepting digital Payments simple, fast, and cost-effective.

Europe’s mobile-POS payments market is projected to reach $2.30 trillion USD by 2027, corresponding to a compound annual growth rate of roughly 24 % over the 2022–2027 period (Statista).

Beyond POS: The Rise of Embedded Payments

While mobile POS is reshaping how Payments are accepted, embedded finance is transforming how they’re managed behind the scenes.

From on-demand digital accounts to co-branded payment cards, embedded finance allows companies to weave financial services directly into their customer journeys - no bank branch or third-party platform needed.

And as businesses look for deeper customer engagement, owning the payment layer - not just accepting it - is becoming increasingly strategic.

What This Means for the Future

The acceleration toward cashless payments opens up a broader conversation:

• How do businesses offer financial tools that feel seamless and on-brand?
• What role will embedded accounts and cards play in loyalty, user experience, and revenue models?
• And as digital payments become the norm, what happens to financial inclusion, privacy, and trust?

These are the questions we think about at Payme Swiss - not just as a provider of embedded finance infrastructure, but as part of a fast-moving ecosystem.

Whether you're in retail, fintech, events, or hospitality - the payments world is changing, and everyone has a stake in shaping what comes next.

What are you seeing on the ground? Are your customers asking for new ways to pay, or do they want more from the payment experience itself?

We’d love to hear from you.