Cash is falling out of favor, with an increasing number of shoppers paying for most or all of their purchases by card.
According to a December 2023 survey by Forbes, “Less than 10% of Americans primarily use cash to pay for purchases,” which means that “debit cards and credit cards are the primary payment method used, with 53% of consumers using a physical or virtual debit card and 37% using a physical or virtual credit card.”
However, paying by card isn’t as risk-free as it may initially appear.