Despite the proliferation of new payment form factors – from cards to mobile apps – most Americans still carry cash, and better than half hate the idea of life without cash. What’s more, just over 45 percent of Americans say they see no reason to use mobile payments, according to a new study.
Not surprisingly, younger consumers are more likely to use mobile wallets and app-based payments, like Apple Pay and Venmo, than their elders. Cashless Culture
, a new study from the marketing agency Hill Holliday, revealed that 88 percent of consumers under the age of 40 have tried mobile payments compared with just 55 percent of those over the age of 40.