Cashless Society? Most Say They Would Hate The Idea

Cashless Society

SAN FRANCISCO—Cashless society? Not yet. More than half (55%) of U.S. mobile users said they hate the idea of life without cash, signifying a major hurdle for financial institutions, payments processors and tech companies that urge consumers to adopt digital wallets, a new report reveals.

According to a survey by Origin, about three-fourths (76%) of mobile users carry cash, and 45% said there's no reason to use mobile payments, explained Mobile Marketer in its analysis.

Younger consumers are leading the way with the adoption of mobile payments, the study found.

Twenty-two percent of survey respondents under 40 said they use mobile payments daily, while 45% of people over 40 said they've never used mobile payments, noted Mobile Marketer.

Section: Standard
Word Count: 187
Copyright Holder: CUToday.info
Copyright Year: 2019
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URL: http://www.cutoday.info/Fresh-Today/Cashless-Society-Most-Say-They-Would-Hate-The-Idea