Sometime back in March, the Federal Reserve began quarantining cash bills arriving from Asia. The move was meant to protect Americans from the coronavirus, but it wasn’t entirely necessary. Cash usage was already at an all-time low. Covid-19 has just hastened the decline, with Americans at first stuck at home and now still wary of the close proximity required for the physical exchange of bills. The volume of ATM cash withdrawals tumbled at least 12% in the second quarter, according to Wall Street research firm MoffettNathanson.
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September 19, 2020 at 04:00AM
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Covid Is Making Cash History. How to Profit From the Digital-Payment Future. - Barron's
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