The COVID-19 pandemic pushed many businesses (and consumers) away from cash and toward digital payments. A new survey on America’s cash and digital payment habits found nearly 1-in-4 people don’t have any cash on them and 1-in-5 say they’ve stopped using cash altogether since March 2020.
When it comes to banking, the majority of Americans avoid in-person The survey, by ThirdPartyTrust, shows that, when it comes to transactions, 80% of people interact with their banks online. Additionally, 53% like to use their bank’s app, and 69% of people deposit checks online. The majority (90%) of Americans also use payment service apps. The most popular is PayPal, followed by Venmo, Zelle, and Apple Pay.
ThirdParty Trust says that the pandemic has changed the way a lot of us live, including how we handle money. 41% of people say they judge the appearance of cash before touching it and 61% wash their hands or use hand sanitizer after touching dollar bills or coins. If cash appears too dirty, more than 1 in 3 (36%) say they’ll reject it.
ThirdPartyTrust is a third-party risk management platform for enterprises and third party vendors to perform assessments, automate TPRM workflows, and share security documents.
Article provided with permission from AppleWorld.Today