Millennials Ditching Cash And Checks For Mobile Payment

Millennials aren’t just cutting cable cords: the newest trend reports indicate that they’re also cutting back on cash withdrawals in favor of mobile payment apps. Venmo, for instance, reported an impressive 62% jump in usage during this year’s first quarter, with a total of $312 million in processed transactions. It is worth noting that currently mobile payment is primarily used in interpersonal transitions between friends, ranging from dinner tabs to splitting rents, which reveals a true missed opportunity that most businesses have yet to embrace.