Almost half of Americans prefer digital payments instead of cash

According to a poll from the US Bank, 47% of consumers prefer digital methods of payments

Almost half of Americans prefer digital payments instead of cash cryptomartez
Almost half of Americans prefer digital payments instead of cash

By increasing access to P2P payments, consumers from different age groups now prefer to use mobile applications, rather than cash, when they pay to other people.

According to a recent survey conducted by the US Bank, 47% of consumers reported that they choose digital applications for making payments, while 45% of respondents prefer cash.

It is noteworthy that digital payments are preferred for 49% of polled millennials (19-36 years), 44% of representatives of generation X (37-52 years) and 32% of baby boomers (53-71 years).

The survey also found that consumers do not carry large amounts of cash with them, because they do not often use them for payments. In general, 50% of respondents reported that in most cases they do not carry cash at all. In other cases, almost half of the respondents have no more than $ 20 in their hands, and 76% – no more than $ 50.

Moreover, 46% of Americans say they use cash less than eight days a month, and 5% say they never use it at all.

Source: businesswire.com

Share this:
All content on this website is based on individual experience and journalistic research. It does not constitute financial advice. Cryptomartez is not liable for how tips are used, nor for content and services on external websites. Common sense should never be neglected!