Consumers Have Been Scared Back to Cash
NEW YORK (TheStreet) -- Could cash be making a comeback?
Credit and debit cards have largely taken the place of cash as the payment vehicle of choice for American consumers, but the past few months have seen security breaches giving consumers second thoughts about the safety of their debit and credit cards.
That concern has led to shoppers leaning more on cash instead of credit and debit cards for their purchases.
"Retailers have seen the cash tender increasing the last couple of years and even more after the recent credit card breaches," said Lee Jurgens, board chair for the Merchant Advisory Group, a payments industry advocacy organization.
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