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March 11, 2019 05:04 am

USA Today Tech Columnist: Millennials Will Live To See a Cashless World

"I haven't had a nickel, dime, quarter or penny in my pocket for two years," writes USA Today tech columnist Jefferson Graham, adding "Why bother? We're now living in what's quickly becoming a cashless society, where credit cards or electronic payments on your phone rule." His column is addressed to the mayor of Philadelphia, who this week signed a bill that bans cashless stores.Mr. Mayor. It's happening all over the world, and not just from Amazon. We are going cashless. Maybe not in your lifetime, but certainly for millennials. Banks and credit card companies want this to curb the costs of handling green. Selected merchants are into it now... USA Today's Charisse Jones discovered that cash purchases were down to 30 percent of all retail transactions as of last year compared to 40 percent in 2012. Millennials, she noted here this week, are saying no to cash, with 21 percent of those 23- to 34 years old saying that most of their transactions were in cash in 2016.... Mobile pay is still a sliver of overall retail sales, but it's definitely on the rise. Target, a long holdout, just added Apple Pay to one of its options, following in the footsteps of Best Buy, CVS, Costco and other retail giants who now accept payment via iPhone. The big, lone holdout right now is Walmart, the No. 1 retailer. It does have its own mobile pay app, that links bank payments to QR codes. And Mr. Mayor, good news for you. Walmart still accepts cash, too. But for how long?

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