by Kevin Coupe
The Wall Street Journal has an Eye-Opening report that “the slow move toward a cashless society is helping to send the ubiquitous ATM into decline around the U.S., presenting challenges for those who still largely rely on cash.
“After peaking at 470,000 ATMs in the U.S. in 2019, the number of machines has declined annually over the past few years to 451,500 at the end of 2022, according to data tracked by research firm Euromonitor International. The reason: Many people quit using cash during the pandemic and haven’t gone back, said Kendrick Sands, consumer finance research manager for the London-based firm.”
According to the story, “Cash and checks are forecast to fall to 14% of total payments this year from 42% in 2010, with the most precipitous drop coming just after the pandemic started in 2020, according to Euromonitor estimates.”
The post <strong>Friday Eye Opener: Cashing Out</strong> appeared first on MNB.
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