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Making Change

Making Change: Payments, Perspectives, and Politics

American consumers have become less reliant on cash, but it’s not going away anytime soon.

Are we heading toward a cashless society?

As more and more consumers use credit cards and mobile payment technology—and more businesses accept them—there’s increasing chatter about America’s future as a cashless society.

Amazon has tested cashless stores. So has Starbucks. Even your local lunch spot or favorite food truck may have stopped taking cash recently. But are we barreling toward a cashless society or is it just hype?

Report Highlights

  • 10% of Square sellers across the U.S. are “cashless.”
  • Consumers at Square businesses paid with cash for only 37% of transactions under $20 in 2019.
  • 83% of U.S. small business owners say they will never stop accepting cash.
  • 2 in 3 small business owners say their customers would react negatively if they went to a cashless business model.

Download the report to learn:

How consumers actually use cash and credit cards.

The small business owners’ sentiment toward going cashless.

Divided opinions on whether government should regulate the register.