As we try to point out on this site on a regular basis, one’s worldview can be affected by many factors. It can also vary considerably from those of other people by any combination of those factors. Consider how we may look at cash. Some of us may rarely even carry cash, the use of digital currency being too convenient to warrant it. Others would look askance at the very idea of snubbing cash, its primal value and use too significant to ignore.
Another point we try to drive home when considering a situation is how fundamentally different one’s viewpoint can be depending on background and experience. For instance, for those born and raised in a virtually cashless environment, not only do they see that as normal, they likely don’t even think about it at all. It just is what it is.
For the older generations, however, not only are they perhaps more comfortable with cash, they also may have some good ideas of why cash can be better. There are times when our form of payment may not much matter or may even be better. Using a credit card for a purchase can actually be better than cash if you want a quick, easy and validated receipt, say for tax records.
At other times, while quick and easy, that credit card transaction has some rather sticky strings attached to it. We assume the merchant and credit card company know what we are buying, what we may not know is how many others know. The privacy of our personal data is but one issue regarding credit card use.Going cashless certainly has its advantages for some. Sure, the banks, credit card companies and many businesses may enjoy a number of perks when credit cards are used instead of cash. For the rest of us, it isn't so clear-cut. Click To Tweet
Why Cashless is Bad
Going cashless certainly has its advantages for some, which explains the strong push in that direction. Of course, life being what it is, what is good for one may not be good for another. Sure, the banks, credit card companies and many businesses may enjoy a number of perks when credit cards are used instead of cash. Naturally, it shouldn’t surprise us when they seek to implement policies encouraging that.
For the rest of us, it isn’t so clear-cut. As always, it benefits us to learn enough about a subject to make an educated decision. Rather than just grabbing that plastic out of habit, we may want to pause to consider if that is the best choice in a particular situation.
Here are some thoughts on this:
“It is great to see this pushback against the supposed cashless future because this is a trend that should very much be nipped in the bud. There are several reasons why cashless stores, and a cashless society more broadly, are a bad idea. Such stores are:
- Bad for privacy.
- Bad for low-income communities.
- Bad for people of color.
- Bad for the undocumented.
- Bad for many merchants.
- Less resilient.
“The issue goes beyond restaurants and retail stores; other services that are built around electronic payments should also offer cash options (or cash-like anonymous stored value cards). Those include ride-share services like Uber and Lyft, bike and scooter share systems, and transit systems.”
Read this in full at Say No to the “Cashless Future” — and to Cashless Stores.