Insights Intelligence North America Paytech

Logica Reseach Finds Historic Shifts in Payments With Huge Decease in Cash Usage

The latest release of the Logica Future of Money Study has uncovered historic and notable shifts in payments, with a significant decrease in the use of cash. Also seen was a notable rise in the use of debit and credit cards, payment apps, peer-to-peer payments, instalment payment options, and PayPal usage. 

Some of the key findings of the report were:

  • One quarter (25%) of Americans reported that they used cash for their most recent in-person payment in Fall of 2019, but one year later in Fall of 2020, only 17% used cash for their most recent payment.
  • 27% of Americans are using peer-to-peer (P2P) payments more, with Gen Z and Millennials leading the way.
  • Buy Now / Pay Later (BNPL) is on the increase, with 14% of Americans reporting that they are using BNPL or instalment plans more often now, since March 2020.

As payment options proliferate, the study concludes that consumers will be looking for easy, fraud-proof ways to pay that help them manage their cash flow—including card, payment apps, P2P and BNPL programs.

At the same time, merchants will need to navigate the payment options for their customers to optimise the check-out experience, particularly online. For payment platforms, they need to understand the end-to-end experience for both consumers and businesses, and how to evolve them.

The newest insights in the ongoing study are based on data collected from a nationally representative group of 1,000 American adults balanced on gender, income and generation. An additional 200 older Gen Zers (age 16-23) were also included for generational comparisons. The results illustrate how people have continued to change their approach to making, spending, saving and investing money.

To find out more or read the report in full, click here.


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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