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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?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Paul Quickenden Chief Commercial Officer at Easy Crypto
17 September
Raktim Singh Senior Industry Principal at Infosys
Yamen Bousrih Manager Business Expert at Vermeg
16 September
John Bertrand MD at Tec 8 Limited
15 September
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