Americans Continue Move Away From Cash

May 15, 2014 – A recent Business Insider article highlighted American’s desire to move away from cash, in favor of electronic payments. BI referenced a recent study by the San Francisco Federal Reserve Bank, which aims to highlight the import of cash, but found that for most Americans (43%), the preferred method of payment is debit – and that debit card use has been sharply on the rise, moving from less than $10B in transactions in 2000 to nearly $50B today. Electronic payments account for American’s higher value purchases averaging $44 for debit cards in comparison to only $21 for cash transactions.