LIBERTY STREET ECONOMICS
COVID-19 and the Search for Digital Alternatives to Cash
Rod Garratt, Michael Lee, and Aaron Plesset
The majority of retail payments in the United States are digital and practically all are tracked, collected, and aggregated by financial institutions, payment providers, and vendors. During the COVID-19 pandemic, payments that require physical contact, such as cash, have been discouraged. The authors outline some evidence on the impact of COVID-19 on consumer payment behavior and look at the implications of cash obsolescence for privacy.
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