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We're still keen on spending money but we're less inclined to flash the cash.

The physical pound in your pocket is becoming ever rarer as we become more attached to paying for things with plastic, or our mobile phones. The country's banks have put out some new figures to underline this trend.

They say one in six adults are now registered for a mobile payment system on their phone which is up eight fold on the 2016 figure.

Two thirds of adults are using a banking app and two in five payments are made by debit card. Cash is still the second most-used payment method but the banks say that's falling with 1 in 10 adults choosing to live a cashless life.

Now this might be good news for those embracing new technology, but what are the implications for businesses, or those who don't have access to new ways of paying for things?

The Nine's Consumer Affairs Correspondent Laura Miller.