With most of the population in developed world using Internet, if banks can lure them to use Internet banking and plastic cards would Paper Cash cease to exist in coming decade? Imagine terms like Dollar, Pound, Euro just in books and there is no actual
currency!! Has all these central banks reduced their Currency printing forecast? So less paper..and more trees J If not shouldn’t they?
Well there are lots of reasons they should consider... its Paper, high risk of money laundering hence terrorism, can be lost, torn & stolen and costs double than electronic use.. so why use currency? But on the other hand, plastic money would be easy to
use, though provokes spending, risk of losing (it’s just a number!). I would say, most vendors/shops i have been to, do accept cards, then who uses cash?
So with variety of cards available debit, credit, cashless, phone, miles, etc do we need CASH anymore?