# More Than a Third of People Think Cash Will Become Obsolete in the Next 25 Years Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-11-24 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Survey Reveals Millennials Predict Cash Will Be Obsolete in 25 Years Meta Description: Independent survey reveals attitudes towards cash vs. card payments and the future of a cashless society. Millennials, Gen X, and Baby Boomers share their URL: https://financedigest.com/more-than-a-third-of-people-think-cash-will-become-obsolete-in-the-next-25-yearshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd241117-1-1736843202867-compressed.jpg) - Independent survey of 1,600 people - 39% of millennials, 34% of generation X and 34% of baby boomers think cash will become obsolete in the next 25 years - 33% of millennials avoid using cash altogether A new survey by B2B comparison site Expert [Market has revealed](https://www.financedigest.com/opportunity-assessment-of-rail-wheel-and-axle-market-reveals-lucrative-prospects-for-manufacturers.html "Opportunity Assessment of Rail Wheel And Axle Market Reveals Lucrative Prospects for Manufacturers") what the public think of current payment methods, including views on cash vs. card and the likelihood of a future [cashless society](https://www.financedigest.com/four-reasons-why-smes-in-developing-nations-should-embrace-a-cashless-society.html "Four reasons why SMEs in developing nations should embrace a cashless society"). When quizzed on the [future of cash](https://www.financedigest.com/cash-me-if-you-can-the-future-of-contactless-commerce.html "Cash me if you can: The future of contactless commerce"), 39% of millennials, and more than a third of generation X (34%) and baby boomers (34%) thought that cash would become obsolete in the next 25 years. The survey, conducted by independent facilitator Vivatic, gathered information from over 1600 respondents and filtered results by three age brackets: Millennials, Generation X and Baby Boomers. Cash, especially for millennials, is rapidly decreasing in popularity; 33% of millennials categorically avoid using cash, 1 in 5 millennials carry less than £5 – making big cash purchases impossible and [nearly half](https://www.financedigest.com/meta-to-take-nearly-half-of-sales-made-by-its-metaverse-creators-as-fees.html "Meta to take nearly half of sales made by its metaverse creators as fees") (46%) are put off buying from a cash only store. Such is their adversity to cash that [nearly a quarter](https://www.financedigest.com/uk-new-car-sales-up-by-nearly-a-quarter-in-october-smmt.html "UK new car sales up by nearly a quarter in October – SMMT") of millennials (24%) have thrown away change to avoid carrying it and a further 41% prefer to pay their friends back via apps rather than cash. The survey showed that 68% of millennials say they have wanted to purchase from a store but have not been able to due to it being cash only, this is closely followed by 56% of generation X and 50% of baby boomers. Such widespread frustration is troubling news for [small businesses](https://www.financedigest.com/best-small-business-loans-speaks-to-fundbox.html "Best Small Business Loans Speaks to Fundbox") and startups who fail to offer non-cash payment options and risk losing out on substantial revenue. The survey suggests that the most prevalent reason for the [move away](https://www.financedigest.com/exclusive-eu-to-move-away-from-emergency-phase-of-covid-pandemic-document.html "Exclusive-EU to move away from emergency phase of COVID pandemic – document") from cash is that it is perceived to be less secure than card payments; 38% of millennials, 38% of baby boomers and 37% of generation X felt that cash was less secure than card. Other popular reasons for avoiding cash included it being unnecessary, heavy and limiting. Lucy Crossfield, lead research for Expert Market comments: “This survey clearly suggests that [card payment options are essential for the modern market](https://www.financedigest.com/the-plastic-cards-market-to-grasp-through-the-fine-courses-of-novelty.html "The Plastic Cards Market To Grasp Through The Fine Courses Of Novelty") with the majority of people surveyed saying that cash only stores had prevented them from purchasing goods. This is a wake up call for cash only businesses to [future proof](https://www.financedigest.com/4-ways-todays-investor-can-future-proof-their-assets.html "4 Ways Today’s Investor Can Future Proof their Assets") their services.” If you would like to publish this data please ensure that you provide a link [back](https://www.financedigest.com/eu-lawmakers-back-ban-on-goods-linked-to-deforestation.html "EU lawmakers back ban on goods linked to deforestation") to our original research using the link here --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---