Consumers trust PayPal more than traditional banks

Baby boomers trust their money with alternate payment providers, such as PayPal, more than bricks and mortar banks. According to a recent survey by Cisco of 1,500 consumers between the ages of 18 and 65-plus, consumers believe non-banks can provide at-par (if not better) payment facilities than conventional banks. Consumers were also frustrated at bricks and mortar stores with complaints ranging from the checkout process taking too long, items being out of stock, and the inability to find the items they wanted. It sounds like the Internet has turned us into spoilt citizens.

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