Is cash still king in 2021?
The past couple of years have seen a trend away from cash towards digital and contactless payments. The ongoing pandemic has only increased this switch, with many business opting out from accepting germ-ridden folds of paper bills and instead allowing only card payments.
Besides the pandemic, crazes over different bitcoin, Apple’s introduction of the “apple wallet”, and the subsequent release of phone wallets for every smartphone, are all symptomatic of a societal shift away from cash.
Having to carry around clumps of bills, counting coins when trying to check out, and having to deposit cash when you finally get around to it are all pains that can easily be avoided with digital payments. So why is cash still around?
Read more
The past couple of years have seen a trend away from cash towards digital and contactless payments. The ongoing pandemic has only increased this switch, with many business opting out from accepting germ-ridden folds of paper bills and instead allowing only card payments.
Besides the pandemic, crazes over different bitcoin, Apple’s introduction of the “apple wallet”, and the subsequent release of phone wallets for every smartphone, are all symptomatic of a societal shift away from cash.
Having to carry around clumps of bills, counting coins when trying to check out, and having to deposit cash when you finally get around to it are all pains that can easily be avoided with digital payments. So why is cash still around?
Read more
Removing ATMs: Why banks are pushing for a cashless society
