Using iPhone to make a mobile payment Source: Shutterstock

The verdict is in – society is moving toward a cashless future. According to a recent report by Visa, a mere 11% of consumers prefer cash payments to credit. This number will only decrease as members of Gen Z join the workforce and start to make financial decisions in today’s world. In fact, an Accenture survey found that “68% of Gen Z consumers are interested in instant person-to person payments – more than any other age group.” Credit unions must fervently answer this call and strategically plan for changing demographics and their dynamic needs.

To meet consumer demands and prepare for a society in which cash is no longer the king, credit unions will have to consider the following:

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical 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 and

Already have an account?


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 and

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

Copyright © 2023 ALM Global, LLC. All Rights Reserved.