Survey shows cash is still popular

One of the biggest trends of the modern era involves the economy moving away from cash based transactions. Instead, paper money and all other physical forms of cash are slowly starting to be replaced with online transactions. With PayPal, Venmo and other online modes of transferring money from one person to another quickly becoming far more popular as time goes by, it seems like it’s only a matter of time before cash becomes a thing of the past, something that modern people simply do not use anymore.

However, a recent survey conducted by JD Power reveals that the cashless future is not what we are going to expect. About 82% of Americans still carry cash with them at all times because of the fact that they would simply rather use cash for quite a few transactions that they are making on a regular basis.

Most respondents to the survey also seemed to agree that stores need to accept cash, which is not the best news for a number of stores opening up that function entirely on a cashless basis all in all.

If you look at the numbers, it does seem like going cashless is not as popular as some people would like to believe. Sixty seven percent of the people that responded to the survey said that they had used cash to make a transaction at some point during the week. Sixty one percent used a debit card, fifty percent used a credit card and twenty percent used the more modern phone based techniques.

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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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