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Cash is still king. Even in the digital age, bills and coins remain the most frequently used form of payment in the United States. Thirty-two percent of all transactions­—and more than 50 percent of transactions with a value under $25—are conducted in cash.

Thirty-eight percent of 18- to 24-year-olds, and 48 percent of consumers with household incomes below $25,000, prefer cash as their primary method of payment. And according to a 2015 survey by the FDIC, roughly 27 percent of all households in the U.S. remain “unbanked” or “underbanked.” This is one driver of the massive number of cash-based transactions that still exist in our economy today.

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