Consumers still see value in cash

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Consumers now have more choices than ever when it comes to making payments. New mobile payment apps are coming on the scene in staggering numbers, while plastic cards are enjoying a renewed vigor with the implementation of EMV technology.Even so, consumers continue to turn (and turn often) to the old payment standby: cash. In fact, a recent CardTronics survey found cash to be the preferred payment method in a variety of remittance situations. Among those surveyed, cash was the first choice for:Reimbursing someone —78 percentBuying groceries —52 percentPurchases at convenience stores —63 percentDining out —53 percentTipping —78 percentInterestingly, it’s not just older generations paying with cash. Millennials reported the strongest increase in cash usage (over a 12-month period) than any other demographic. Fifty-seven percent of Millennials said they used a wider array of payment methods over the past year than ever before. However, 45 percent also reported they are more likely to pay with cash now than they were a few years ago. continue reading »last_img read more