Findings from the Cardtronics 2016 US Health of CashMoney in physical form such as banknotes and coins. More study indicate that cash is not ready to be replaced by bank cards and new digital wallets as US consumers prefer combining the paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More instruments available rather than choosing one over the other. Indeed, 85% of participants reported using at least two different payment methods every month – depending on the type of purchase – and always keep some cash on hand.
According to the survey, expensive purchases are mostly made with debit and credit cards, while paperSee Banknote paper. More moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More is preferred for small-value items, especially in convenience stores. Besides, cash also appeared to be the most popular payment instrumentDevice, tool, procedure or system used to make a transaction or settle a debt. More for P2P transactions, despite the rising number of mobile transfer apps on the market. Figures demonstrate that 79% of consumers rely on cash when it comes to pay back friends.
Security is often cited as banknotes’ main appeal. Indeed, 83% of respondents reported to be concerned about their data security and privacy and 93% stated that they fear hackers’ attacks. Finally, 59% of consumers estimate that cash is the safest payment instrument – well ahead of its competitors.
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