Dive Brief:

• The percent of consumers who said last October that they’d recently made payments with cash declined to 83%, from 87% in 2023, according to the results of a survey of payment methods by the Federal Reserve Bank of Atlanta. Similarly, the proportion of survey respondents who had used checks fell to 35% in 2024, from 40% in 2023.

• The most popular form of payment for all types of transactions, including purchases and bill payment, were credit cards, according to the report. Of all the transactions tracked in the survey, 35% were made with credit cards, followed by debit cards (30%), cash (14%) and bank account methods (13%), the results showed. Checks captured just 3% and prepaid cards 2%.

   

   

  Read More At: Yahoo