(POLL) Americans using cash less often; foresee cashless society

The following is an excerpt from Gallup News.

Sharply fewer U.S. adults report they use cash for making purchases now than say they were doing so five years ago. Thirteen percent say they make “all” or “most” of their purchases with cash, while 28% say they were using cash to the same extent five years ago.

Six in 10 now say they make “only a few” or no purchases with cash today, nearly double the 32% saying they did so five years ago.

These results are based on a July 5-26 Gallup poll and are consistent with the trends seen in the Federal Reserve’s most recent payment study that documented a decline in cash transactions since 2016. 

Greater use of online shopping, especially during the coronavirus pandemic, is likely one major factor leading to changes in cash usage.

Other factors driving a decline in cash usage may be a larger number of merchants accepting electronic payment, an increase in self-checkout registers in grocery and larger retail stores, and mobile pay options that allow people to pay for purchases using their smartphones.

More Than Six in 10 Predict a Cashless Society

Sixty-four percent of Americans say it is “very likely” or “likely” that the U.S. will be a cashless society at some point during their lives; meaning all transactions are done using an electronic method of payment rather than physical currency.

The percentage expecting a cashless society today is essentially unchanged from the 62% who made that prediction in a 2016 survey.

Older Americans are somewhat less likely than their younger counterparts to believe the U.S. will become a cashless society during their lifetime.

Fifty-six percent of those aged 65 and older, and 62% of those between the ages of 50 and 64, believe it is likely, compared with 70% of those under 50.

Continue reading complete survey results here.

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5 thoughts on “(POLL) Americans using cash less often; foresee cashless society”

  1. We started paying cash as often as possible. Cash = freedom. Cashless = slavery. It is so important to resist everything the global predators are doing.

  2. Just about the only thing I regularly use cash for is the jukebox at the local bar. But even that is set up so that you can pay and play via a phone app. I would not be surprised if in a few years the phone app will be the ONLY way to play the jukebox. More and more entertainment events already require that you buy tickets via a phone app.

  3. I know lots of people around the World who save and collect Coins and Currency and Gold and 1600’s to 1800’s Gold Spanish coins, in underground Vaults and Safes storage away from Banks !, I agree with most other posters, I don’t want to Live in a Police State future where these unsafe Non-secure internet, and unsecure networks are watching everything your doing and buying, like in Norton anti-virus commercials warning you is going on 24-7. Also If the NSA has a building full of people that fights cyber crime everyday and they was on previous episodes of 60 minutes CBS saying even they have been hacked “What’s that Tell you ? Don’t let these ignorant people set you up for a Police State money system, targeting most peoples buying power habit’s turning you into monkey’s on a Rope turning tricks, you Don’t want to live in that kind of world future ?

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