Cash has been at the centre of our society for centuries, but is its reign coming to an end?
Thanks to the advent of the internet and the rise of digital payment methods, there’s a chance that we are moving towards a cashless future.
Indeed, by 2031, cash could make up only six per cent of transactions in the country.
Many people have already shown that they are not ready for this, and there are a few who object to the concept.
However, it may be a case that we all have to start preparing for this potential future.
Recent Parking Meter U-Turn Shows People in the Area Aren’t Ready
There have been various moves in recent times that suggest the council and some businesses in the area are ready to start making the transition towards ubiquitous cashless payments.
However, there is also a lot of evidence that highlights how many people around Nantwich are nowhere near ready to make the move towards this futuristic vision of society.
The recent U-turn on cashless parking meters by the Cheshire East council perfectly represents how opinion is divided on this matter at the moment.
Some viewed it as a step forward for the area when these were introduced, while others were deterred from using public car parks because of them.
Now, cash payments have been brought back to these meters, meaning that everyone can opt for their preferred method.
Digital Payment Methods Have Grown with the Online World
If the internet had never been conceived, the idea of going cashless in the real world never would have come into being.
Because paper and coins can’t be used to pay for things online, new methods emerged and gave people a vast number of options.
Now, there are countless ways to pay online. These include payment platforms like PayPal, wallets such as Apple Pay, and cryptocurrencies like Bitcoin.
The internet’s most flourishing industries have pushed digital payments like these into the mainstream.
The online casino sector, for instance, can be credited with introducing intuitive payment services.
When players access a mobile casino, they can deposit and withdraw straight from the device using one of the numerous options available.
There’s also the option to pay by phone, and the seamlessness of it all means there’s no downtime on the gaming side of things.
Various Benefits to Going Cashless
There are various benefits to going cashless as a society.
From a hygienic perspective, using paper and coins has always been a great way to spread germs.
A £20 note will be used on average 2,328 times during its lifespan, highlighting just how many times it will change hands.
Logistically, going cashless can be beneficial. If internet connectivity is everywhere and infallible, people will always be able to perform transactions with their mobile devices.
They won’t have to visit the bank or take cash out of a machine. It also means that the money can’t be lost or stolen.
People aren’t quite ready to go cashless yet.
However, public opinion is likely to change over the next decade. A cashless future is on the horizon, and people need to get used to it.
(Pic under creative commons licence)
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