Cash has proven resilient despite threats over the years from a variety of alternatives, including credit and debit cards, online payment systems and digital wallets. Cash is the most convenient, inclusive and agnostic form of payment for small purchases, which is why it is used in most transactions under $10.
While electronic payment forms and digital wallets have made gains, cash isn’t going away. The simple reason is too many people and businesses still depend on cash. As long as some retailers continue to prefer to accept cash to avoid credit fees, cash transactions will continue. Cash in circulation has reached an all-time high, and if nothing else, that shows cash remains resilient and will be around a long time.
Find out more about the resilience of cash in The Resilience of Cash in a Digital World white paper.