Consumers Pay With Methods Other Than Cash

Some statistics about consumers use of cash versus other payment methods:

"Last year 27 percent of all point-of-sale purchases were made with cash and that number is expected to drop to 23 percent by 2017... plastic cards purchases comprised 66 percent of all in-person sales, with nearly half of them, or 31 percent, made with debit cards, according to Javelin. Last year shoppers used credit cards for 29 percent of point-of-sale purchases; Javelin expects that number to rise to 33 percent by 2017. Shoppers deployed gift cards and prepaid cards for 6 percent of purchases made with plastic last year. A mere 7 percent of transactions involved use of a paper check..."

The Huffington Post article also mentioned a few retail stores than no longer accept cash.

Comments

[sage stationery]

Through PayByCash® merchants gain the ability to easily accept an unprecedented breadth of payment types. Customers can use more than 70 convenient payment options.

[chantal]

Since our Mobile has become a tool allowing us to effectuate any banking operation through it any technical device is an asset. It has become ever more popular for people to visit the internet to start with, knowing that the most cost effective hotel rooms or flights shall be online.

[Dan Hardy]

I remember traveling to Australia in 1999 and being amazed that one could pay for gas with a mobile phone. The technology has been around but the US are just catching up.