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People still like and use cash despite COVID-19 fears





Cashless payments are on the rise in the wake of COVID-19, but don’t write off hard currency just yet.

A new survey from online deal platform CouponFollow, “The State of Cashless Spending in 2021,” indicates nearly half (49%) of surveyed adult U.S. consumers are worried about using cash due to the potential risk of COVID-19 transmission. As a result, 41% started using cashless payments during 2020.

However, respondents are not entirely abandoning cash as a means of making retail purchases. Six in 10 (62%) used cash for some of their shopping in 2020, and nine in 10 (91%) carry cash on them at any given time. About one-third (35%) of respondents said they are prepared to give up using cash completely.

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.










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