Skip to main content
Apply Now

Death of cash

Modern Times, The Death of Cash | Debt Consolidation LoansWhen the contactless payment limit was raised from £20 to £30 on 1st September 2015, some heralded it as the true start of the race towards a cashless society, which they think will arrive within the next 10 years. Actually, people have been predicting the death of cash for more than 50 years, but it is still with us.

Cash does, after all, have advantages over its electronic rivals – it is convenient, reliable, widely accepted and, perhaps most importantly, anonymous. With all the new payment methods – cards, mobiles, smart watches, wireless wrist bands, facial recognition technology – the money can be traced back to the sender.

Cash also holds a peculiar place in people’s affections, as demonstrated by the outcry when coins and notes are changed or taken out of circulation.

People are fond of their notes and coins and interested in the different look of cash from other countries.

They also tend to see it as more real than electronic money, so using cash only – say on a night out – can be an effective method of budgeting.

Small gifts and tips are more welcome in cash.

But there are already places where cash is not accepted at all – the London bus network, for instance, has been cash-free since 2014. In the Netherlands, there are 1,400 supermarkets that do not accept cash at all.

Is the death of cash imminent? Will the electronic alternatives take over completely as they become more sophisticated? Or will we decide to opt for a combination of the two – some sort of physical cash incorporating digital security features?

Cash has been in our society for thousands of years – it is unlikely to disappear without a fight and we will probably hold onto it for as long as we can.

Debt Consolidation Loans are a UK based Debt Consolidation Loans Broker, We can help with any form of Debt Consolidation you may need.

Visitors also read:

UK Debt Statistics Are You to be Affected | Debt Consolidation LoansDebt
March 6, 2020

UK Debt Statistics Are You to be Affected

Are you affected according to the Office of National Statistics, UK residents are in £119 billion of household debt. This doesn't include mortgage debt but does include everything from credit…
Young Adult in DebtDebt
December 7, 2020

Young Adult in Debt

Debt is not an older person’s problem. 18-to-24-year olds are building up considerable debts, despite trying to budget properly. A recent survey of just over 2,000 18 to 24-year olds…
good debt vs bad debtDebt
October 22, 2020

Good Debt vs Bad Debt

What is Good debt vs bad debt? Good debt is money that’s owed for things that can increase or help to increase your income over time. These include mortgages and…
Personal financial information security | Debt Consolidation LoansGuides
December 3, 2019

Personal financial information security

Personal Information Security Personal financial information security is absolutely paramount when researching which debt consolidation loan company to use. It is important to check that they have security in place…
Save with Coupon Code OffersDebt SolutionsGuides
January 15, 2021

Save with Coupon Code Offers

SAVE WITH COUPON CODE OFFERS An integral part of taking out a debt consolidation loan is changing your spending habits (sometimes drastically) in order to prevent falling into debt again.…
Advantages and Disadvantages of Consolidating Business DebtCredit cards
May 16, 2020

The dangers of credit card debt

Illustration of a man in debt The dangers of credit card debt Credit card debt is one of the most common causes of stress for people all over the UK, as…

Leave a Reply

five × four =

Close Menu