Boomers Say
Cash Is Dying
Yahoo!
Finance
Aug 29 2007 : The majority of
U.S baby boomers and echo boomers predict electronic payment
transactions will one day replace cash and checks, a study by
Visa USA reveals.
The study found that 79 percent of baby boomers, people born
between 1946 and 1964, believe cash is on the way out. The
same belief is held by 74 percent of people born from 1979 to
1989.
The expectations of these two
generations are important, because together they are “the
powerhouses of U.S. consumer spending,” Wayne Best, Visa
USA’s chief economist, says. Visa USA estimates that by the
year 2015 the two groups will together account for more than
50 percent of total consumer spending.
Copyright © 2006 Verifone
Inc. All rights are reserved.
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