In the USA, cash is used for 49% of payments under $10 (Federal Reserve, 2019)

July 22, 2019 Share Source

According to the survey findings, cash is used for 49% of payments under $10 in the United States of America.

The 2019 Diary of Consumer Payment Choice (Diary) highlights findings from the fifth Diary study conducted by the Federal Reserve. A demographically-representative sample of 2,873 individuals participated in the study and reported all of their payments and transactions over three consecutive days, staggered throughout October 2018.

Key findings include

  • People used cash in 26% of transactions, down from 30% in 2017.
  • Debit cards were the most used instrument, used for 28% of all consumer payments.
  • Cash was used heavily for small-value payments, representing 49% of payments under $10.
  • The share of cash use among individuals under 25 years old is the highest of any age group.
  • In-person payments accounted for 73% of all transactions. Participants used cash for 35% of in-person payments.

Read more here

Download 5th DCPC here

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Last Updated: Aug. 15, 2019