"Some 4.4 billion people, or about half of people worldwide, are using digital wallets, with that number expected to grow 35% by 2030, according to tech strategist firm Juniper Research. Adults 24 and younger are most likely to pay with their phones, using them to make 45% of their purchases, according to a 2025 report from the Federal Reserve (across age groups, mobile phones were used for 23% of payments)."
"Hailey Moore, a 26-year-old in Los Angeles, tells me she hasn't had a wallet in more than a decade, and rarely carries cash. If she does get some, maybe in a birthday card, it feels like fun money: "If I have cash on me, it's money that doesn't exist," she says. And it disappears quickly. "I can just use this to get myself a little treat.""
"People are increasingly ditching cash, with 30% of Americans saying they haven't taken cash out of an ATM in the past month, and 17% saying it's been longer than six months, according to a LendingTree survey."
Digital wallet adoption has reached roughly 4.4 billion users worldwide and is projected to grow 35% by 2030. Adults 24 and younger make about 45% of purchases with their phones, while mobile payments account for 23% of payments across age groups. Cash now represents just 14% of purchases and is used more often by those older than 55 or in lower-income households. Surveys show many digital-wallet users regularly leave home without a physical wallet, and substantial shares of Americans report little or no recent ATM use. Younger consumers often treat cash as discretionary or novelty money.
Read at Business Insider
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