X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.