Cash: Not Always Welcome

Some consumers don’t want it in their wallets

Author: Monica Melton

June 15, 2017

A new survey found an overwhelming preference for payment types other than cash.


The study, from Visa and PYMNTS.com, found that more than one-quarter of US smartphone users surveyed said they never use cash, and around two-thirds (64%) said that while they sometimes use cash they prefer to use cards or mobile payments.

Among those who picked cards over cash, the reasons varied. Some cited speed and convenience, others cited rewards. Some just didn’t like carry cash because they didn’t feel it was all that safe.

The data parallel other surveys suggesting consumers tend to prefer payment methods over cash. A July 2016 survey by TSYS found that internet users are more likely to name credit cards as the safest payment method for their purchases, whether in-store or offline.

A YouGov survey conducted a study last year found that almost half (48%) of 2,126 US internet users polled thought that cash would never disappear as a payment method. But, the majority of respondents could foresee a time when cash is no longer a payment method.