Women more likely than men to pay with cash
On a worldwide basis, women typically use cash 6 percent more often than men, according to a consumer payments survey by data and analytics company GlobalData.
According to a press release, the company found that the majority of survey participants feel most comfortable when paying with cash; 89 percent said they use cash for in-store payments up to 25 times a month.
"[The fact] that women use cash for payment more frequently compared to men reflects their traditional societal roles," GlobalData Senior Financial Analyst Arnie Cho said in the release. "In most cases, women tend to bear the responsibilities for looking after the household and taking their children to and from school, which increases opportunities for cash purchases."
Approximately 33 percent of female and 35 percent of male respondents cited comfort as the main reason for choosing to pay with cash, GlobalData found. Other reasons included convenience, low risk and the unavailability of alternative payment methods.
Cho said that other factors influence the use of cash payments, as well:
For example, the Gen X and Y segments use cash more often than the other age groups — partly as a result of being out at work, which increases their opportunities for in-store purchases. Payments providers should look to understand the specific occasions for cash usage across demographics in order to offer viable alternatives to consumers.
The GlobalData survey polled 30,000 adult consumers in 35 markets.