Millennials are embracing digital payments at much higher rates than older generations, but their preferred payment method is, surprisingly, cash.
The findings come from a recent study by Cardtronics and Edelman Intelligence, which found cash, debit cards and digital payments vying closely for most-preferred status among Americans age 18-34.
While millennials’ preference for plastic (debit and credit combined) totals 42 percent of respondents, baby boomers’ preference for cards came in at 66 percent. Generation X, though, reported a preference for cash similar to that of millennials.
Cardtronics’ 2017 Health of Cash Study was conducted in May and June 2017, with results released Sept. 20.
SOURCE: creditcards.com