Not surprisingly, a study conducted by Ipsos for the ING (ING) - Get ING Groep NV Sponsored ADR Reportbank website eZonomics showed that more people throughout the U.S., Europe, and Australia would prefer to go without cash and rely on a strictly electronic form of payment, Reuters reports.
The study was conducted in 13 European countries, the U.S. and Australia, and found that people in places where cash is mostly used are the ones that want to make the switch more eagerly.
With services like Apple (AAPL) - Get Apple Inc. (AAPL) Report Pay, PayPal (PYPL) - Get PayPal Holdings Inc Report and Venmo it makes sense that people, especially younger generations would prefer to use electronic payment options, rather than fumbling with cash and taking trips to the ATM.
Thirty-four percent of those surveyed in Europe and 38% in the U.S. say they are willing to go cash-free. Twenty-one percent in Europe and 34% in the U.S. say they already do.
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