Haven't we come to a point where cash no longer serves the purpose that it used to? With electronic banking, credit and debit cards, have we come to a point where we no longer need to carry around cash?
I'd rather pay for everything with my credit, debit, or another type of card. I no longer feel the need to carry much cash with me.
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I feel that use of credit cards leaves you open to identity fraud as well as leading to overactive spending. I'd rather deal in cash.
35 comment(s) so far
GenCthinks: I don't see the point of carrying cash either. It's much easier to keep up with my spending by using a credit card and I don't have to stop by the bank every week to get more cash. That would make things much more simple.
lonewolfthinks: I Don't like the idea of credit card's lke other's have said your wide open to identity fraud and theft, it's a lot easier for someone to obtain another's person's bank detail's and basically bleed them dry,I have seen what can happen with credit card's and it's not nice at all. I myself would never have one let alone be given one i have alwqy's paid for thing's with cash it's what i,m used to and no way am i gonna change to a credit card no thnx, i mean i,ve been in shop's where a person pay's for a packet of cigarette's with a credit card, i mean comeon that's ridiculus,all you need is a bit of loose change and your in and out,i have also seen people only pay for a few item's with a credit card when there is a que in the shop.It take's longer to pay for stuff using a credit card than it doe's using cash,if that's the case why not have seperate till's for people who use them and leave the que's for those like to use cash.
Ionikthinks: [65+0.5*(numer of years past from now)]% for A and [35-0.5*(numer of years past from now)]% for B, but not more than 90% A or less than 10% B, after 50 years.
It is good to progress in technology, but always are threatening aspects not revealed yet. So it is important to have some altenatives which we can chose by impact and experience.
SimplyOverwhelmedthinks: I much prefer to use my card but I also know that in many countries/areas there is a minimum bill, under which you have to pay a fee. As well, some banks can add service fees. So what if you wanted to spend only pennies? Things have to progress a lot more but I would really like this to happen. My pockets would be lighter too.
Maverickthinks: Cash is merely a physical represenation of value. You could just as easily pay with a card or any other representation of payment. Yes, cash is the most universally accepted form of payment, but times change. We are no longer trading beans for wool. We live in a new global economy where cash has become somewhat irrelevant, even a burden. Maybe credit cards offer a whole new set of issues, but it's important to create systems that make life easier and I don't think carrying wads of cash and coins in my pockets is making my life any easier.
Simplerthinks: agree that cash is slowly on the way out. Think the worries about identity theft and fraud are limited - in most cases this would be covered by the merchant or the bank, which have insurances to protect consumers.
One more benefit with having no cash is that it makes money laundering and illegal activities much more difficult. Not to mention moon lighting. This will make life harder for criminals and terrorists...
Roadmeisterthinks: I would happily get rid of cash, but the retail environment does not allow it yet.
Every bank seems to need to develop it's own payment system and so do most countries and even companies like Google seem to find a need to have their own payment method.
So if I could I would but for npw cash remains king, especially for micropayments.
