A man seen making a transaction at an ATM. (Photo by Murat Kocabas/SOPA Images/LightRocket via Getty Images)
Cash is becoming less relevant by the day as more people opt for digital payment methods resulting in a dip in ATM usage.
A study by research company Euromonitor International found that the number of available banking machines in the U.S. has dropped by more than 18,000 since 2019, a time when there was the highest number of them at any time in history.
The drop off is being linked directly to the gradual transition towards digital payment options, which accelerated during the COVID-19 pandemic.
"There was that scare that the virus was transmitted by paper, plus the trend of just buying everything online," said Kendrick Sands, consumer finance research manager at Euromonitor International, according to The Wall Street Journal.
The accessibility of digital payment platforms like Venmo, Cash App, and Zelle have also seemingly contributed to the decline in the use of cash. But for making small payments, the ATM Industry Association notes that cash is still the preferred method of payment on items that cost less than $25.
The decrease in ATM usage comes with its own set of issues, as large numbers of people still rely on cash. As fewer cash machines become available, access to funds for those groups will become more difficult.
YouTube will offer creators a way to rejoin the streaming platform if they were banned for violating COVID-19 and election misinformation policies that are no longer in effect.
Lukas Alpert of MarketWatch explores how networks, brands, and ad buyers absorb the shockwaves when late‑night show hosts are suddenly cut — and brought back.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
