YouthSight eBook - Banking on the next generation

Gen Z are savvy with where they
spend their money – but how do
they access it?
Gen Z are rejecting traditional money
management for refreshing digital alternatives
We’re living in an increasingly cashless society – where contactless payments mean that
money is digital, rather than physical.
Services like PayPal and Apple Pay allow young people to spend digitally and feel
secure in doing so – more recently not-for-profit organisations such as The Big Issue
have even gone cashless along with charities such as Oxfam, Barnardos and NCSPCC.
70%
of Gen Z have made in-app payments in the past year,
whether it be on a payment app such as Google Pay or Apple
Pay or on a retailer’s app, more than any other generation
23%
of Gen Z predicts physical cards will soon be obsolete as
opposed to just 6% of the over 55s.
Source: U.S Mobile App Report 2017