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The cashless shift in America: What it means for shoppers and businesses

Step aside, cash: There's a new king in America, and it's made of plastic.

Fewer Americans are using cash for everyday purchases, favoring credit or debit cards and smartphone wallets instead. Several trends have fueled this shift.

Online shopping has skyrocketed, with online retail sales quadrupling over the past decade. Today, about 15% of U.S. retail sales are made online, according to Census Bureau data. The COVID-19 pandemic accelerated this trend, changing the way Americans shop both online and in-store.

Many retailers stopped accepting cash during the pandemic to reduce germ exposure. A 2021 Square survey found that about 18% of businesses weren't accepting cash due to the pande

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