In UK Payment Markets 2013 report, the council has forecasted that consumer cheque transactions will continue to decline from 477 million cheques in 2012 to around 186 million in 2022.
The mobile payments and internet banking will boost consumer use of one-off payments from their accounts from 356 million payments in 2012 to nearly 1.5 billion in 2022, the report added.
It is likely that the number of cash payments will decrease from 21 billion in 2012 to around 14 billion in 2022, as people increasingly use alternatives such as cards and automated payments.
The council is considering introducing a new service to make secure account to account transfers using only a mobile phone number, as many people are likely to make payments to using phones and tablets by 2022.
Payments Council chief executive Adrian Kamellard said, "As an industry we need to make sure that we not only encourage and support on-going innovation, but also make sure that we don’t lose sight of our tried and trusted payment methods.
"Over the coming decade we will see major innovation with the introduction of our Mobile Payments Service in 2014, the Current Account Switch Service next month and of course all the innovations brought to market by individual players within the payments field."
