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Study: Millennials don’t want plastic
Physical credit cards may be going the way of DVDs and floppy disks.
According to new analysis from Bankrate.com cited by PayPal, 63% of millennials do not have a credit card. However, that does not mean they are abandoning credit-based purchases.
Millennials are now the fastest growing segment of PayPal Credit shoppers, rising to 33% of the total in 2015 up from 28% in 2013. Rather than shunning credit altogether, this influential group is turning to alternative credit services to help manage their finances.
