If you were to look into the wallets of many young adults at this very moment you will see that almost all no longer carry cash. Why is this? These days it feels like everyone is tapping their phone or card to pay. The increasing disappearance of cash has left people wondering if this will be our future.
When digital pay was introduced people viewed it as an opportunity to make transactions easier. Over time it grew increasingly popular, making life convenient for the average person. However, questions still arise, is the shift towards digital pay all progress or are we overlooking some problems?
Digital pay is everywhere, payments such as Apple Pay, Venmo, and debit or credit cards, have become a part of everyday life.
“I would say I use digital pay six times a week, almost every day.” stated Mr. Vargas
Christopher Quintana added, “I use it anytime I have to pay for something, mostly because I don’t carry cash.”
Mostly the younger generation is in favor of digital pay, it is quick, easy and eliminates the need to carry bills or coins. The digital payment systems make transactions not only quicker but safer for both consumers and businesses.
“I prefer paying digitally because when I pay that way, I always know where my money is.” Christopher explained.
Showcasing how digital pay minimizes risk, such as losing cash or being unable to track your spending. However, in the case that you do lose your card it can be resolved faster by disabling transactions. Unlike cash, it would be harder to recover lost/stolen cash. Reducing the contact of cash is also helpful and it reduces physical contact which is more clean and has us less open to bacteria.
Despite its benefits, going cashless will cause problems. Not everyone has access to a phone, bank account, or debit/credit card. Relying on solely digital payments could leave certain people behind.
For instance, I know a family member of mine, who does not have a credit card or access to digital payments and prefers cash, cash is his only way of transactions and limiting payment methods in the future would be difficult on him and others who do the same.
Even for those who can use digital pay, it isn’t always the ideal way. Zeus Ibarias recalled a frustrating experience:
“I went out with friends, and the moment I went in, the place said they only accepted cards. At that moment, I felt uncomfortable because their charge fee was $2.”
The rise of digital pay represents growth in our world, but it is important to balance convenience with inclusivity. Businesses should offer both options and should not be either cash-only or card-only. Maintaining both cash and digital options ensures no one is excluded, whether they rely on cash out of preference, necessity or emergencies.
As we continue to make advances in technology, I strongly believe we shouldn’t get rid of one system for another, but to use them both to progress in the future.
Written by Evelyn Salgado, Staff Writer