Cash too convenient

Cash is still the most convenient medium when buying everyday items like gum, cigarettes or coffee. It is faster and more convenient than using a card in many cases.

This may not seem like the case, but a big credit card website called surveyed their customers and despite their main audience being credit card users, 50% of the 2,400 adults surveyed prefer to use cash over card for purchases under ten dollars. Mobile payments and tap to use cards are the main services card providers are pushing, but it is only popular for the millenial crowds.

With credit card rewards being a huge part in people getting credit cards, 43% still use cash as their main payment method, while the rest preferred debit or credit card.

Cash is still a preferred method for many purchases under $10 because many small stores charge a fee if a certain transaction amount is not met. Some may not even accept card if a minimum is not met.

For cardholders, ages 23-38 use card 33% of the time for small purchases, but the number drops as the age groups rise. People aged 38 and older only use card 23% of the time for small purchases. This is why cash and ATMs are beneficial in many stores. Especially those with an older audience.

As mentioned earlier, card providers are pushing contactless cards to be the norm, but also found that more than 50% of card owners have not even touched the contactless payment options. Cash is still too convenient for people to switch to only card.