My take, from my experience, is checks continue to be used for high amounts like paying rent, car deposits etc. because there are no good alternatives. Making a bank transfer to another person/entity in the US continues to be extremely cumbersome, slow and expensive- unlike Europe where it's a quick and easy and usually free online transaction using your bank's app.
It would be interesting to see this in comparison to other countries, especially the use of cheques (checks), from my experience America still uses them much more that other countries.
This is highly US focused, EMEA card and card / mobile contactless payments are significantly higher than in the US.
Since this is an annual survey, would be interesting to see the trends over the past 30 years, to observe the speed of this transition.
My take, from my experience, is checks continue to be used for high amounts like paying rent, car deposits etc. because there are no good alternatives. Making a bank transfer to another person/entity in the US continues to be extremely cumbersome, slow and expensive- unlike Europe where it's a quick and easy and usually free online transaction using your bank's app.
It would be interesting to see this in comparison to other countries, especially the use of cheques (checks), from my experience America still uses them much more that other countries.
In India, the use of digital money (UPI) is on a rapid rise....far more than cash now.