PayPal global study spells doom for the wallet

PayPal today revealed the findings of a global study that paints a dim future for the wallet. A vast majority (83%) of respondents across five countries indicated they wished they didn’t have to carry a wallet. Additionally, nearly one in three Americans (29%) would choose a smartphone over a wallet if they could only bring one item when going out.

While American consumers are keen to move to a digital payment future, the businesses that serve them may be lagging behind. More than two-thirds of Americans (68%) reported they have been unable to pay for something because they didn’t have cash with them; for nearly one in three Americans (30%), this has happened frequently.

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