We know payments apps are popular, but how about in the youngest generation?

Answer: 16%

Questions:

• Do you have a payment app on your phone? 
  • If so, why? When do you use it?
  • If not, why not? Do you plan to get one in the future?
• What are the pros and cons of paying with cash vs. a digital payment app?
• What age do you think would be best to start using a digital payment method? Why?

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (PwC)

"Payment methods remain surprisingly traditional. Cash is still around, even for a generation that lives online. But we do see shifting behavior over time, likely as parents feel that kids gain maturity with age. For instance, kids’ use of digital payments or wallets rises, with 23% of 13- to 14-year-olds using them compared to 12% of 7- to 9-year-olds.

On average, however, the data for 7- to 14-year-olds shows that:

• 60% of kids say an adult pays for them when they buy something
• 49% say they use cash
• 16% use digital payments or wallets
• 14% use gift cards
• 12% use a bank or debit card"

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Check out the FinCap Friday, Peer-to-Peer Apps Go Head-to-Head!

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About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.