Although Millennials are most likely to adopt other paymentA transfer of funds which discharges an obligation on the part of a payer vis-à-vis a payee. More tools, these tools have yet to replace traditional payment methods. In fact, 58% of the 18 to 34 age group still prefer using cashMoney in physical form such as banknotes and coins. More for person-to-person (P2P) transactions and 45% of them have acknowledged being more likely to pay with cash now than they were a few years ago.
Millennials are the age group that is most open to lending and borrowing 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 and when it comes to exchanging money with family and friends, they are more likely to rely on cash. Their second-most preferred payment methodSee Payment instrument. More is P2P payment apps, with PayPal at the top of the list followed by Venmo and Google Wallet. This age group’s least popular payment methods are electronic bank transfers and checks.
Gender differences were also found when it comes to money exchanges between family and friends: women have a significant preference for cash compared to their male counterparts.
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