Has Gen Z made cash cringe? We’re not so sure. A new Cash App/Harris Poll survey of 2K U.S. adults found that over half of Gen Z only use cash as a “last resort,” while nearly a third say people who pay with cash are “out of touch.” The shift tracks with Federal Reserve data showing Americans make 48 payments per month on average, but make only seven using cash. Instead, they say Gen Z gravitates toward BNPL services, with 42% of Millennials and Gen Z using BNPL versus just 21% of other generations. However, YPulse’s latest Fintech report shows a different story: when we ask how teens and young adults most often pay for things IRL, cash is by far teens’ top response and is more popular than physical credit cards for young adults. While BNPL is doing well at selling them mini-loans, young gens are actually somewhat debt averse to using credit currently. (Fortune)
👀 Read more from YPulse: The Top 10 Reasons Gen Z and Millennials Use Peer-to-Peer Payment Apps
