New York (CNN Business)It's no longer all about the Benjamins. Or the Jacksons, Lincolns and Washingtons, for that matter.
The pandemic has accelerated the demise of cash because of infection concerns -- and that's great news for Square as well as Venmo owner PayPal.
Their stocks are surging this year as people shun physical bills and coins, shop online and send payments digitally in an increasingly contactless world. The use of paper currencies was already in decline before the coronavirus outbreak, according to research from the Federal Reserve Bank of San Francisco.