A new report from the Aite Group, a financial services consultancy, suggests that the role of cash among consumers will continue to diminish.
The report, which was based on a survey conducted among consumers in the U.S, the United Kingdom and Australia, asked consumers about their payment habits, including gift giving.
"For most types of bills, the percentage of consumers paying with cash is in the single digits and lower than it was two years ago," the survey found. "Just two types of bills–rent and mortgage–are paid in cash by a higher percentage of consumers today than they were two years ago.
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