Digital payments have become the preferred payment method

Nearly half of consumers have embraced digital payments in some form, but banks must continue to leverage secure and convenient features, such as the Zelle network, to take advantage of this growing trend, according to a new survey by US Bank.

Digital payments have grown to become a preferred payment method by a significant portion of consumers across different demographics.

Nearly half of consumers prefer using digital apps to make payments. Roughly 47% of consumers stated that they preferred digital means for performing transactions, while cash came in slightly lower, at 45%. This difference will likely become more profound as consumers increasingly move away from using cash. In fact, half of survey respondents reported that they carry cash less than half of the time, and when they do, they often don’t use it — 46% of consumers reported using cash fewer than eight days a month.

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