"We don't think the consumer particularly likes cash."
Speak for yourself, Tim! Cash is untraceable - no Big Data when cash is the vehicle of payment; Don't have to worry about my "Cash" data being hacked or hijacked or stolen by some third world script kiddies or state actors.
Cash is just fine for me!
YMMV
Agreed, I think it is not as simple as saying the consumer doesn't like cash.
It is more that they want the convenience.
For every day grocery shopping and similar small items, the convenience to pay with a card or Apple Pay is
obvious.
Nobody will bother to hack into a milk bill for $ 2.50 or Starbucks Lattes or McDonalds Big Macs.
With banks taking fees everywhere they can and pushing the work to the consumer doing their services online
it is obviously easier to use non cash.
Bank of America doesn't even have drive up tellers anymore, only "machines"
But cash also has it's issues. You lose it , it's gone. Can be stolen (In that case I'd prefer if they steal my date and I'll get to keep the cash) and there is a daily limit of $ 10,000 if you want to pay someplace with cash.
They'll still give you a receipt, so there again is your visibility.
Someplace in that "cash" chain somebody documents that transaction.
Several years back a neighboring company got a Fedex box with $ 20,000. The office manager gave it to the police.
Now if whoever sent that was upset and came after that office manager (Who originally signed for receiving that package and had his name posted with the FEDEX tracking info)
he could have been toast.
Even as an innocent bystander cash would have caused problems.
So, it's not as
save as one might think.