Cash is on its way out, but are bitcoin and other virtual currencies on their way in? Well, maybe.
About 9% of American consumers believe that their children, or future generations, will be paying for things in the future with virtual currency, according to a poll of 875 participants conducted by LendEdu.
Cash, unsurprisingly, was an equally unpopular choice, with approximately 11% of respondents choosing that option. In fact, more consumers were sure that future users will be transacting with a form of payment that hasn’t been invented yet, more than using cash.
Rather, the war for future payments is between debit cards, and digital wallets like Apple Pay or PayPal, according to the survey, which was released yesterday.
About 23% of customers agreed that debit card would be the way future generations made payments, while about 28% said the same about digital wallets. Interestingly, less than 1% of participants (.91%) said that digital wallets were currently their main form of payment.
Take a look at the rest of the survey here.