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Abstract

Using data from the 2021 Diary of Consumer Payment Choice, this article investigates two questions: how do consumers without credit or debit cards make payments, and do consumers without these payment cards differ from other consumers? Key findings:1. Consumers without cards use cash for three-quarters of their payments, compared to about one-fifth for consumers overall.2. Consumers without cards are four times as likely to use a prepaid card as other consumers and use these cards for 8 percent of their payments.3. Consumers without cards could rely on household members, other family, or friends to make online and bill payments.4. Most consumers have a credit or debit card: 93 percent of US consumers 18 and older.