The Future of Cash

Dispelling the myth of a cashless society

While cash use has declined over the last decade, with the introduction of more sophisticated mobile and digital payment methods, cash is still very much alive and well! In fact, reports as recent as January 2025 revealed that cash usage has growth consecutively for the last three years across the globe.

While many businesses chose to go cashless during the pandemic, the majority of companies are now happy to accept cash again. Since the cost-of-living crisis hit, the use of cash is rising, as it helps people budget more effectively. Cash usage is enjoying a resurgence across all demographics of society, and particularly with younger people, who have become fans of ‘cash-stuffing’, regularly posting videos about this on TikTok. The truth is that the majority of the U.S. still uses cash for at least some of their regular purchases every week.

The Consumer Financial Protection Bureau continues to work hard protect consumers’ and businesses’ access to cash and we’re seeing a resurgence in people wanting to protect it as a payment choice, now and in the future, so, despite an array of media reports to the contrary, the U.S. (and the rest of the world) is a long way from becoming a cashless society.

The Evolution of Cash in the U.S.

In 2025, cash continues to maintain a significant role alongside digital payment methods across the U.S. Below are some of the positive developments regarding cash usage in retail, quick-service restaurants (QSRs), and other sectors:​

Policy Shifts Impacting Cash

The future of cash has been influenced by some recent policy decisions, including:

• The elimination of the Penny: In February 2025, the U.S. ceased the production of the penny coin, due to high production costs and limited utility. This move aims to reduce unnecessary government expenditure and serves to streamline currency usage.
• Central Bank Digital Currency (CBDC) Ban: In January 2025, a new signed Executive Order prohibited the establishment or promotion of a U.S. central bank digital currency. 

Retail Industry

• Consumer Spending Growth: Despite the rise of digital payments, consumer spending in the retail sector is estimated to grow by 3.1% in 2025. This growth includes a variety of payment methods, including cash, proving its continued relevance for consumers. ​Read more here.
• Enhanced Payment Flexibility: Retailers in the U.S. are increasingly adopting omnichannel strategies, using both digital and traditional payment options. This approach ensures that consumers who prefer using cash can continue to do so, enhancing both inclusivity and customer satisfaction. ​

Quick-Service Restaurants (QSRs)

• Market Expansion: The QSR market in the U.S. is projected to grow from $289.68 billion in 2024 to $468.98 billion by 2034. This expansion reflects a robust industry where cash transactions remain a vital component, catering to a diverse customer base. ​
• Contactless Dining Innovations: While digital ordering and payment systems are on the rise, many QSRs continue to accept cash, recognizing its importance for a segment of customers who prefer or rely on cash payments. This allows QSRs to serve a broader demographic more effectively. ​

Other Industries

• Financial Services Adaptation: Financial institutions are investing in technologies that accommodate both digital and cash transactions. Innovations such as real-time reporting and automated transaction processing enhance the efficiency of cash management, ensuring that cash remains a viable and convenient option for consumers.
• Regulatory Support for Cash Transactions: Certain jurisdictions are implementing policies that mandate businesses to accept cash, ensuring that consumers who prefer or need to use cash are not excluded. For instance, Washington D.C. has introduced requirements for businesses to accept cash payments, promoting inclusivity in the marketplace.

In summary, while digital payment methods are gaining traction, cash continues to play a crucial and positive role across various industries in the U.S. in 2025. The co-existence of cash and digital payments offers consumers flexibility, inclusivity, and ultimately, payment choice.

Volumatic and the Cash Industry

As industry-leading cash-handling experts, Volumatic is proud to be held in high regard by the cash industry and we regularly partner with other industry experts to share our joint knowledge to help businesses make better decisions about cash use and acceptance. We focus on making cash as convenient, safe and efficient as possible for our clients with our range of money counter solutions. Volumatic remains at the forefront of technology and industry news to make sure we can deliver the best cash handling products and the best service possible for our clients.

Drawing from the latest research and industry trends, we’re here to share our knowledge to help cash work harder for you and your business – and our partners help us to impart this knowledge. We’ve regularly worked with industry experts like the Federal Reserve at our conferences and our previous Cash after Covid webinar, exploring the impact of the pandemic on cash, and helping to dispel the myth that cash payments helped to spread the COVID virus.

We also attend many events and conferences across the globe to help us keep abreast of the latest industry news and at the forefront of cash handling evolutions – we attended the Future of Cash Conference in Istanbul in 2023, where industry professionals discussed how the demand for cash is now returning following the pandemic and how the access to cash agenda is gathering pace.

Volumatic’s whitepaper research conducted in 2021 – Consumers Demand Payment Choice – was written in partnership with cash industry experts including the Bank of England, Vaultex and Enryo, and found that consumers still very much wanted the choice of paying by cash. This view has been further supported by the retailers we met with at our Cash 2030 conference in 2022 and by The Cash Census report produced by the RSA in 2023.

Our Industry Partners include:

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By entering your details below, you can receive a copy of our ‘Consumers Demand Payment Choice’ white paper, and stay up to date with the latest cash news from Volumatic. In collaboration with the Bank Of England, Vaultex, The Co-op Food Group and others, our white paper shares insights to help your business continue to move forward in the years following the pandemic.