There are probably almost a majority of people today who believe the move towards a cashless society is good. Direct pay deposits and debit card purchases are have become practically synonymous with the air we breathe every day.
Paying bills online, and solely using that little plastic card we get from the bank to make purchases has amounted to setting up our small cash-less society. We mostly never see one red cent nor ever hold a dollar bill in our hands anymore. Frankly, even “writing paper checks” is almost an oxymoron.
For me, the idea of having some bills and coins in my pocket still has its allure. Having cash in my pocket where I can touch and feel it gives me a secure feeling. It may sound silly, but I work hard for my money and like to see and feel some of it on occasion.
There is a more advanced form of being able to make purchases, steadily becoming normalized rise today – cell phones. You can even pay cell-phone to cell-phone by tapping. Yes, “tapping”!
Then there’s the ability to deposit your checks in the bank without leaving your armchair! You have most likely seen the commercial: the guy sitting in his chair, then realizing he has to go to the bank. He gets up and puts on his hat and coat only to suddenly remember that all he has to do is take a picture of both sides of his check with the cell phone, transmit the image to the bank, and voila! His deposit is complete. He then removes his previously donned coat and hat and resumes what he was doing before. Which, also begs the question, “Why didn’t he just set up direct deposit with the company where he works?”, assuming it to be a paycheck, that is.
I guess that in this ever growing, ever-changing digital world, this is called progress.
Then there are all of those restaurant and retail store gift cards and reloadable cash cards, too. Some of the cash cards are not reloadable, but the idea is still there. You can usually purchase one of these cards for one of three set denominations from $25 to $100.
They are put out by the two major credit card companies Visa and Mastercard and can be used just about anywhere and for anything. All that you require is to register the card online or by phone to activate it. Much like activating a credit card.
If everyone can pay for things they want electronically, almost no one would need a credit card. Buying small items on credit could become a thing of the past.
Major purchases like buying a house or a car would still require a person to have an excellent credit rating, but maybe consumers would stop getting themselves in way over their heads if they found it easier to live within their means.
Having instant access to their bank balances and the ability to pay using their cell phone could make the idea of a cashless society a reality sooner than anyone thinks.