Will we ever be a cashless society?

[Formerly Rockymtnole]

Maybe not officially, but to the point where it’s difficult to do business if you just have cash?

 

[noStemsnoSTICKS]

Maybe not officially, but to the point where it’s difficult to do business if you just have cash?

Great question.

I think we'll be cashless by 2030. Or at least, nearly cashless.

 

[JustSayOV]

I hope not.....then I would never be able to "make it rain" ever again.

 

[Hoosierhawkeye]

Maybe not officially, but to the point where it’s difficult to do business if you just have cash?

No I think this is as far as it goes.

The card swiping companies take like 2% or whatever of each transaction. So the businesses would probably rather you pay in cash.

And for business between individuals cash is generally going to be king there.

Unless those things change I don't think a cashless society is likely to happen.

 

[bagdropper]

Probably about the time James T. Kirk is born...

 

[DooBi]

No I think this is as far as it goes.

The card swiping companies take like 2% or whatever of each transaction. So the businesses would probably rather you pay in cash.

And for business between individuals cash is generally going to be king there.

Unless those things change I don't think a cashless society is likely to happen.

Businesses charge the 2% to the customers. More and more events are going to cashless. The Tyson events center in Sioux City is going cashless. I believe the Wells Fargo/Casey's center in Des Moines is also. I know the parking is. I think some retail businesses could follow suit.

 

[hexumhawk]

Would be a terrible idea for our society.

 

[Formerly Rockymtnole]

Would be a terrible idea for our society.

Elaborate?

 

[Chuck C]

Hell, a food a truck I went to the other day was card only, no cash. Maybe the old man in me is showing, but I don’t think I like the idea of a completely cashless society, even though I think it’s coming.

 

[B1GDeal]

Outside of the barbershop I go to and an occasional youth sporting event… can’t think of a single time I’ve used cash in a couple of years.

 

[TunzaHawk]

No. Too many people think that the government will track their financial activity in a cashless system

 

[stickman80]

No I think this is as far as it goes.

The card swiping companies take like 2% or whatever of each transaction. So the businesses would probably rather you pay in cash.

And for business between individuals cash is generally going to be king there.

Unless those things change I don't think a cashless society is likely to happen.

There might be some businesses that are hurt by credit cards but they are highly valuable to most.

Studies show people spend more when using a card as opposed to cash.

If you take checks you have to deal with bad ones. Cash and you have to deal with a robbery or employees stealing from you. If the transactions are over $10k you must deal with federal reporting.

Easier to embrace the use of cards and pass along the discount fee if possible.