How COVID killed cash
No one pays with cash anymore, and this cultural shift has a dark side
According to new statistics from the Federal Reserve, only 14 percent of Americans today say they prefer to spend money using cash rather than a credit or debit card. Around 54 percent of customers use a debit card. Another 26 percent prefer a credit card.
The smartphone payment app Venmo has 65 million users around the world. Cash App has 36 million ac…