I never have cash – not even a dollar. Most of my friends don’t have cash either; only those friends who collect tips from working in the service industry do.

A survey from MasterCard shows that three in four Americans (73 percent) say they use less cash today than 10 years ago.

As a member of Gen Y, I think cash is a hassle. I’m always worried about losing it, forgetting how much I have, and wondering what to do with leftover change. What do you do with change?

Cash only becomes necessary for me in social settings – paying a friend back, splitting a bill, or joining a betting pool. It’s not a problem for my friends though; they’ve started using PayPal’s Venmo app (as many millennials have). Venmo links to your bank account/debit card and allows you to pay someone instantly through a social media-like interface. On our last trip, I tried to pay a friend back with a check and they all laughed. Checks are more of a hassle than cash!

Venmo is just one of many peer-to-peer payment apps. Social media giant Facebook has also created a way to send and receive money with a new payment feature in its Messenger App.

Beyond mobile payment apps, my husband has started using ApplePay wherever it is accepted. All he has to do is tap his phone to the keypad during checkout and confirm the purchase with his fingerprint. He’s already got his phone out in line to browse while he waits, so it’s incredibly convenient to pay without having to pull out his credit card.

ApplePay and other NFC (near field communication) payments use a short-distance radio frequency transmitter in POS devices to communicate with certain mobile phones. It will only continue to become more popular as an available, easy way to pay in the future. According to an article on NASDAQ’s website, Reuters projects the number of phones with NFC chips will double to 550 million this year from 300 million last year.

Mobile use is infiltrating society in every way. In this case, it’s completely eliminated my need to carry cash. Furthermore, for my husband (in some cases) it’s eliminated his need to carry credit cards.

Gen Y’s acceptance of mobile payments is further proof that the payment industry is changing. And billers that offer compelling mobile payment solutions are going to reach more people than they would through traditional payment methods.

Read More about Mobile Payment options in our Blog “Mobile Bill-Pay Options Should Be Standard”.