Will cash be phased out?

[MrDawn]

Do you think cash will ever be phased out to where people can only use debit cards, credit cards, & cash apps?

Why or why not?

 

[Bryn]

No, because some people are still dependent on cash, such as the elderly. Also, using cash makes you less of a victim of fraud and transactions with it are anonymous as well.

 

[KO896]

The Amish deal in cash...I think @PGen98 and I had a conversation elsewhere in that we suspect they might accept some other forms of payment haha

 

[Dee]

Not in my lifetime. Hell, I'm still using checks to pay my rent (that's all I use them for). We'll probably resort to more e-payment options, but cash will stick around a lot longer.

 

[Kyng]

I hope not. It's a great backup for when electronic payment methods fail!

 

[Cam]

I do believe physical cash will be a thing of the past at some point in time. We're not there yet, and it probably won't happen in our lifetimes.

 

[Cpvr]

I don’t think it’ll phase out anytime soon.

 

[passenger]

I do believe physical cash will be a thing of the past at some point in time. We're not there yet, and it probably won't happen in our lifetimes.

Hope that you're right about that.
Cash is good.
We have a small grocery store chain here (WinCo) that will accept Debit cards or Cash; but not Credit cards. I think they're trying to minimize their 'outflow'.

 

[Min George]

We are not even talking about cash being phased out with the way technology is going now. Wth people being able to shop through biometrics authentication, we are talking about physical cards being phased out.

 

[NeoMetallix]

I certainly hope it isn't. Anything can be hacked, it puts you more at risk. Also it's annoying when you go somewhere and their system is down so you can't even pay with cash because they either don't take it or never came up with a backup plan...

 

[Uncrowned]

I don’t see cash disappearing either, and there really isn’t any major push to eliminate it outright. A lot of people get caught up in the digital‑currency conversation, but that’s a totally different issue from whether you can still hand someone a $20 bill for coffee or buy something second‑hand with cash.

What is changing is how often people actually carry cash and how many small businesses want to deal with it. Digital wallets are incredibly convenient, and they’re also a lot harder to steal than a physical wallet. On the business side, especially for small shops, cash comes with headaches; counterfeit bills, counting errors, theft (both external and internal), and the time/risk it takes to manage it. Digital payments cut most of that out.

So no, I don’t think cash is going away. But I do think we’ll see more situations where the local food truck, pop‑up vendor, or tiny shop just isn’t set up for cash anymore because it’s simpler and safer for them to go all‑digital.

 

[NeoMetallix]

I don’t see cash disappearing either, and there really isn’t any major push to eliminate it outright. A lot of people get caught up in the digital‑currency conversation, but that’s a totally different issue from whether you can still hand someone a $20 bill for coffee or buy something second‑hand with cash.

What is changing is how often people actually carry cash and how many small businesses want to deal with it. Digital wallets are incredibly convenient, and they’re also a lot harder to steal than a physical wallet. On the business side, especially for small shops, cash comes with headaches; counterfeit bills, counting errors, theft (both external and internal), and the time/risk it takes to manage it. Digital payments cut most of that out.

So no, I don’t think cash is going away. But I do think we’ll see more situations where the local food truck, pop‑up vendor, or tiny shop just isn’t set up for cash anymore because it’s simpler and safer for them to go all‑digital.

Is it though? If I have cash in my house, you have to physically break in. Digital wallets are easy for thieves to phish or socially engineer to access the account.