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Millennials Not Rushing To Mobile Pay

  • NPR, Monday, April 6, 2015 9:34 AM

According to Doug Conover, an analyst with the Federal Reserve Bank of San Francisco, younger people aren't rushing in droves to pay with smartphones. “The perception that young people rarely use cash is just not correct,” he says. The Federal Reserve Bank’s new study asked people to keep a diary of their spending. Versus older consumers, young adults reported using cash more (for nearly half of all purchases.) Plastic is their favorite way to pay.

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