The payments landscape is one of countless aspects of our lives that’s been impacted during the pandemic. While lockdowns and quarantines accelerated a rise in online shopping, e-commerce still represented about 14% of retail sales in the U.S. in 2020. This means that 86% were in-person, even as the pandemic intensified.
As one of the most widely used payment methods, cash plays a critical role in society. Millions of Americans use it and legislators want to protect it because it’s reliable, inclusive and private.
At Brink’s, we have a unique look inside the global cash supply chain. Read below for substantiation that cash usage is going strong.
Cash usage is strong.
1 St. Louis Federal Reserve (FRED). U.S. currency in circulation through 3/31/21. Weekly Average Currency in Circulation (Billions of Dollars, Weekly, Not Seasonally Adjusted)
2 Represents year-over-year increase in number of withdrawal transactions on “same terminal” basis
3 Represents year-over-year increase in value of cash processed in U.S.
Small businesses continue to accept cash
86% of retail transactions are in-person, where cash is preferred.1
E-commerce growth rate expected to moderate
Source: U.S Census Bureau (2019-2020), eMarketer (2021-2025)