>> Paying with cash could be a thing of the past. A study showed Wednesday, that more than a third of Europeans and Americans will be happy to go without cash, and relay on electronic forms of payment, if they could and at least 20% already do. The survey by ING bank website economics was conducted across Europe, the US, and Australia.
A significant 34% of respondents in Europe, and 38% in the US said, they'd be willing to go cash-free permanently. And cash is already getting less popular. More than half of the European respondents said, they'd used less cash in the past 12 months than previously. And 78% said, they expected to use it even less over the coming 12 months.
Payment systems such as contactless cards and phone based digital wallets have become so prevalent, the issue has even become political in some countries. Cash fans Germany are concerned about the European Central Bank decision to phase out the 500 euro note next year, saying, it's the start of a slippery slope.
The central European country still likes hard cash, with only 10% telling the survey they rarely use paper money. But the survey also showed that in most countries where cash is still widely used, residents were most likely wanted to go cashless and that includes Germany. While there is no evidence, the government is planning to scrap cash as yet.
Some consumers think, it makes perfect sense.