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The Cashless Society? It's Already Coming
HughPickens.com writes Damon Darlin writes in the NYT that Apple pay is revolutionary but not for the reason you think. It isn't going to replace the credit card but it's going to replace the wallet — the actual physical thing crammed with cards, cash, photos and receipts. According to Darlin, when you are out shopping, it's the wallet, not the credit card, that is the annoyance. It's bulky. It can be forgotten, or lost. "I've learned while traipsing about buying stuff with my ApplePay that I can whittle down wallet items that I need to carry to three": A single credit card, for places that have not embraced, but soon will, some form of smartphone payment; a driver's license; and about $20 in cash. Analysts at Forrester Research estimate that over the next five years, US mobile payments will grow to $142 billion, from $3.7 billion this year. "If I were to make a bet, I'd say that 10 years from now the most popular answer from young shoppers about how they make small payments would be: thumbprint. And you'll get a dull shrug when you ask what a wallet is."
My job, and almost all medical jobs require me to carry my physical certifications on my person. The state and other regulatory agencies can demand my cards at any time for inspection. It's about ten small cards that will likely never leave my wallet, no matter what comes down the line.
I wish there was a choice that said "Factually Wrong -1" when I mod.
I've been 98% cashless since the early 90s and never have more than a few dollars on me at any given time.. I put everything on a credit card and write one check a month to pay for everything. And now I don't even have to write a check, I just go online and make a payment straight out of my bank account to the credit card company. And, because I pay everything off every month it costs me nothing, and, since I'm using a 'cash back' credit card, I get a check for $50 every few months. It's not much but it's free money that I didn't have before. I'm sure the credit card company hates people like me, but fuck'em.
You won't be playing badminton at the clubs without cash.
Most people who pay me don't have bank accounts, it's either cash or money orders.
Gas for the car? Cheaper via cash. This becomes all the larger when gas prices are higher.
Car repairs? You'd be a fool to pay electronically, when the discount for cash gives you $20 back for small services, and multiples of that for large.
Drinks at the bar? Cash means faster service, more value to your tips, less problems/complaints on tabs.
Meanwhile, every other month I know folks who have dropped phones in the toilet, lost, broken, had their phone stolen, or the person paying for their phone service doesn't, so it gets shut off. Only once in my dozen years of doing my job has a client lost her purse.
I laugh every time these articles get posted here, as there are entire segments of society for whom this would not function.
Whenever I take out my wallet to pay for something I keep my wallet in my hand until I get back whatever credit card, ID, or 'reward card' I take out
Me too. Another thing I have learned is to never close a locking door unless the key is in my hand. This has led to some arguments:
"Honey, close the car door."
"Where is the key?"
"In my purse."
"Can I see it?"
"It is in my purse. Why don't you trust me?"
"I am not closing the door until I see the key."
"Okay, okay, just a second. Oh, wait, it is still in the ignition."