Is Cash on the Brink of a Slow Death?

Cash may be an endangered species. Think about it: Around $60 billion in cashless consumer transactions occurred in 2010. In 2016, the Federal Reserve has estimated that figure will rise to $616.9 billion.  Certainly, the move toward a cashless society is already well under way around the world. In Sweden, an estimated 59 percent of consumer transactions are cashless. And in Canada, 77 percent of those responding to a recent survey by the Canadian Broadcasting Corp. said they would prefer to eliminate cash altogether. Stateside, 3 out of 4 Americans say they use less cash today than 10 years ago, according to MasterCard. In fact, 43 percent of Americans said debit cards were their preferred payment method, while 35 percent preferred credit cards and just 9 percent preferred cash, according to a 2014 survey of 1,000 consumers by TSYS, a payment processing company.  “W

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