The key takeaway from the 2017 Health of Cash study is that consumers need choice. When 89% of consumers like having the ability to use a variety of payment methods and 82% would miss cash if it went away altogether, it is clear that the war on cash is not in the people's interest.
While a very small number of niche retailers and restaurants may have a clientele willing to accept cashless as their only option, that is neither the want nor the will of the vast majority of Americans, who simply want to be able to choose, and to have as many choices as possible. - 2017 Health of Cash
Excerpt from Health of Cash 2017 study
There are three key truths that guide consumers in their payment decisions. For each of these areas, neither cards nor digital payments are able to provide the same comprehensive bene ts package that consumers have come to appreciate and rely on from cash.
- Consumers like choice
- Exchanging money should be convenient, safe/secure, easy to use and (at times) private
- Payment options should empower financial well-being and inclusion