Consumer Payment Card News

Cashless Society

A new survey by ACNielsen has found that the USA and Portugal have the most cash-strapped consumers. About 22% of U.S. respondents said that once they have covered their essential living expenses, they have no money left over. While the U.S. may have the highest percentage of consumers with no spare cash, this number has dropped 6 percentage points since the last ACNielsen survey in May 2005. The improvement dovetails with other signs that U.S. consumers are trying to improve their financial situation. For example, of U.S. consumers who do have spare cash, their first priority for that money is debt repayment (42%). This number has increased nine percentage points since October 2004.

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