The way people communicate today is almost strictly digital, yet when it comes to paying each other, cash is still king. The 2013 "How Americans Pay Each Other" survey from Fiserv revealed that times are changing. Cash and checks are increasingly being replaced by emails and texts to send money to and request or receive money from other people. With 79 percent of respondents saying they would use a person-to-person (P2P) payment service from their bank, it may only be a matter of time before the "check is in the mail" becomes “the text is in the air."
For more details, read the press release.