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Consumers are carrying less cash today than ever. According to a recent Bankrate survey conducted by Princeton Survey Research Associates International, 40% of respondents reported that they carry less than $20 in cash in their wallets. Only 9% of those surveyed in 2014 by TSYS said they preferred cash over cards as a payment method. And a recent MasterCard survey reported on Consumercredit.com revealed that 80% of U.S. consumer spending is cashless.

While these data points illustrate how consumers utilize cash today, they also beg the question: How long before payment cards follow suit, especially given new advancements in digital wallet technology?

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