Despite an increasing number of ways to pay for goods and services, consumers still use cash, a survey by Blumberg Capital found. The survey conducted in May by Harris Poll found that almost 60% of American consumers use physical money to make purchases at least once a week.
Emerging point-of-sale and online payments technology, such as ApplePay, PayPal and Venmo, were used less frequently by fewer people. Just 21% of respondents said they use these methods of payment at least once a month.
"This survey reveals a huge opportunity for fintech companies to grow and scale as more consumers begin to recognize the benefits of fintech and get comfortable moving beyond cash and checks," David Blumberg, founder and managing partner of Blumberg Capital, said in a statement.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
