Cash remains key for travel spending, report finds

Cash continues to play a central role in international travel spending, even as digital payments gain ground in domestic markets, according to a new insights report released by Travelex.

The firm’s inaugural Travel Money Insights Report, based on a combination of internal revenue data and global consumer surveys, found that 69% of travellers still use cash while abroad—outpacing card-based payments, including debit, credit, and prepaid options, across most regions analysed.

The findings highlight a persistent reliance on cash for everyday travel scenarios such as tipping, taxis, and small-value transactions, where card acceptance and fees remain inconsistent. At the same time, most travellers continue to carry cards alongside cash, suggesting that hybrid payment behaviour remains the dominant model.

“Domestic cash transactions may be falling, but in the travel money market, cash firmly remains king. Cash remains vital for small items like tipping and taxis, whilst many travellers have reservations over cards being accepted and potential fees. Travellers who traditionally relied on airport stores to acquire cash last minute are today far more inclined to do so in the weeks leading up to their trip – be that when they do their holiday shopping, or through alternative channels such as home delivery or pre-order click-and-collect Airport stores are still a key resource for many, but the market has shifted.” said Philip Bowcock, Travelex’s Chief Executive Officer.

Beyond payment preferences, the report points to a notable behavioural shift in how travellers acquire foreign currency. Consumers are increasingly planning ahead, with a growing proportion purchasing travel money weeks—or even a month—before departure. In contrast, only around 6% of respondents reported buying currency on the day of travel, indicating a decline in last-minute, airport-based transactions.

This transition reflects broader changes in consumer expectations, including the rise of pre-order services, home delivery, and click-and-collect models. While airport exchange outlets remain relevant, their role appears to be evolving as travellers seek greater convenience and cost certainty prior to departure.

From a FinTech and payments perspective, the findings underscore the continued fragmentation of cross-border payment experiences. Despite advances in global card acceptance and digital wallets, gaps in infrastructure, pricing transparency, and trust continue to sustain demand for physical currency in international contexts.

The report’s release also coincides with Travelex’s 50th anniversary, marking its evolution alongside shifting travel and payment behaviours. As the travel sector continues to recover and digitise, the persistence of cash suggests that fully cashless travel remains some distance away, particularly in regions where acceptance and cost concerns continue to shape consumer choice.