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|
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.