Cash & Checks Decreasing

Cash and checks now account for only 45 percent of consumers' monthly payments -- down from 57 percent in 2001 and 49 percent in 2003, according to a study by the American Bankers Association. The study found that 33 percent of in-store purchases are made with debit cards. Gift card use is increasing rapidly. 4 percent of all in-store purchases in 2004 were accounted for by gift cards. 52 percent of consumers use automatic payment to pay at least one bill per month, and 39 percent use online bill payment.