If cash is dead, why are so many people using it?

first_img continue reading » Cash is going out of style…or so some companies would have us believe. Indeed, cash may be out for many industries including technology groups and networks. But let’s be honest, who would benefit most from a mass consumer abandonment of traditional payments? A recent study from the ATM Industry Association (ATMIA) on the past five years of currency circulation in thirty countries found an average growth rate of 8.9%. The U.S. had an increase of 6.9% for 2013 and a 7.5% average rate of increased circulation.A January 2015 study from the Federal Reserve Bank of Boston, “U.S. Consumer Holdings and Use of $1 Bills,”  reported 64% of U.S. adults 18 years plus start the day with at least a dollar on hand. In addition, 50% of consumers report making at least one cash transaction on any given day.So why isn’t cash a thing of the past, as so often reported?center_img 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more