Maybe it’s the convenience. Could be the added security. Perhaps points play a role. Consumers are ditching greenbacks in favor of swipe or tap. Speaking of tapping, Millennials aren’t the only app-happy generation today. Boomers are increasingly banking by mobile app, according to a recent study. Turns out they were playing all that Candy Crush to master the art of the tap and swipe. About that flip phone you’re saving for junior when he goes to high school? He’s expecting a smartphone. If you give him a smartphone, he’s gonna want a data plan.
Consumers are more likely to swipe or tap than to use cash for purchases. Mobile payment options like PayPal, Google Wallet and Apple Pay are joining old-school plastic in the march toward cash-free commerce.
Boomers are catching on to mobile banking. Millennials have been app-y banking for a while now. Now their parents are beginning to catch on, according to a recent study.
But mom, all my friends have one. The percentage of consumers age 12 to 17 who own smartphones has been growing at a respectable rate in the past several years, according to eMarketer.com.
Meanwhile back at the RANCH
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