It’s too early to dig a grave for paper money, but new research from BAI and Hitachi Consulting suggest cash is increasingly loosing out to automated payment modes like PIN and SIG debit.

The joint “2008 Study of Consumer Payment Preferences” shows PIN and SIG debit account for 37 percent of consumer payments, with cash coming in at 29 percent. And PIN debit wins out over SIG debit by a 45 percent to 35 percent count. The study, sponsored by firms that should be happy about the results, such as MasterCard, Metavante, First Data and PULSE, also said 41 percent of consumers say they use cash less often today than two years ago.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.