In this series of reports, spanning May 2019 to September 2020, we use Square data to dig into the ever-changing state of commerce and examine whether or not we’re headed toward a cashless economy.
Since we first introduced our findings over a year ago, a lot has changed. We are living through unprecedented times, with a global pandemic accelerating the digitization of finance and the economy at large. Meanwhile, an overwhelming majority of business owners still plan to accept cash at their business, a reminder that a less cash society is not necessarily indicative of a cashless one.
Still, much remains unknown regarding which elements of this new normal will endure post-pandemic, and we will continue to closely monitor our data as the commerce landscape evolves.