"This year, cash ranked as the third-most-used payment method, behind credit and debit cards, according to the Federal Reserve Financial Service's 2025 Diary of Consumer Payment Choice. And Gen Zers are leading the charge in ditching paper for plastic. Results from a Cash App/Harris Poll survey released Thursday shows more than half of Gen Z only uses cash as a "last resort" when paying, and almost a third said people who pay with cash are either "out of touch" or "cringe.""
""I do not carry my wallet with me anymore and carry my ID in my phone case. I use Apple Pay for everything," one user wrote. "The few times I have even stood at an ATM in the past few months I have been harassed by people begging for me to withdraw cash for them, so I don't like the hassle of withdrawing money anymore.""
"Of the 48 payments per month U.S. consumers make on average, just seven are cash, according to the Federal Reserve Financial Service study. That suggests "cash usage may have reached a baseline," Kathleen Young, executive vice president and chief of FedCash Services, said in a statement. To be sure, cash still "maintains relevance due to [its] ubiquity, accessibility and resilience," she added."
Card payments have surpassed cash as the dominant payment type in the U.S., leaving cash as the third-most-used method behind credit and debit cards. Cash App/Harris Poll survey results show more than half of Gen Z use cash only as a "last resort," and nearly a third describe cash users as "out of touch" or "cringe." Some younger consumers avoid cash-only stores and prefer mobile wallets like Apple Pay to avoid ATM hassles. Federal Reserve data indicate an average of 48 payments per month with only seven in cash, suggesting cash usage may have reached a baseline while remaining ubiquitous, accessible and resilient.
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