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Young adults use cash instead of plastic – report

Monday 18 April 2016 11:57 CET | News

67% of 18 to 34-year-olds still prefer to pay for goods with cash whereas older generations appear to be more comfortable using plastic, a new study reveals.

Debit cards were found to be the UK`s preferred method of payment (39%), followed by cash (32%), credit cards (15%), online wallet solutions like Apple Pay (10%), while 3% still routinely use cheques, according to a survey issued by First Capital Cashflow, themoneypages.com reports.

The survey showed that people aged 55+ are still most likely to use cheques. Yet 18 to 24-year-olds are four times as likely to use cheques as those aged between 45 and 54.


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Keywords: cash, debit card, credit card, UK, cheque
Categories: Payments & Commerce
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Countries: World
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Payments & Commerce