Cash Losing Appeal as Online Retailers Rise

By:
Chris Gaetano
Published Date:
Nov 2, 2017
STORY NO. 3

How much cash is in your pocket right now? If you're like 76 percent of Americans who took a recent survey about how they pay for things, you've probably got less than $50, according to CNBC. The survey, conducted by U.S. Bank, asked 2,000 people about their choice of payment methods. What they found was that 50 percent of people only carry cash with them about half the times they go out. Further, half of survey respondents say they generally only keep to up $20 on them, that is when they carry cash at all. The survey also found that the number of days people use cash are generally dwarfed by the days they don't: 46 percent said they use cash less than eight days a month, while 5 percent don't use cash at all. 

This could be due to the rise of online payment options: 47 percent prefer digital payment options to cash. Another part is the rising number of people who just buy things online, where cash is somewhat impractical. 

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