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.