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Americans Using Cash Less Often; Foresee Cashless Society

finchannel.com

Americans Using Cash Less Often; Foresee Cashless Society

Sharply fewer U.S. adults report they use cash for making purchases now than say they were doing so five years ago. Thirteen percent say they make “all” or “most” of their purchases with cash, while 28% say they were using cash to the same extent five years ago. Six in 10 now say they make “only a few” or no purchases with cash today, nearly double the 32% saying they did so five years ago. These results are based on a July 5-26 Gallup poll and are consistent with the trends seen in the Federal Reserve’s most recent payment study that documented a decline in cash transactions since 2016. Greater use of online shopping, especially during the coronavirus pandemic, is likely one major factor leading to changes in cash usage. Other factors driving a decline in cash usage may be a larger number of merchants accepting electronic payment, an increase in self-checkout registers in grocery and larger retail stores, and mobile pay options that allow people to pay for purchases using their smartphones.
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10 of February 2026

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