With new tools such as Google Wallet and Apply Pay, the concept of purchasing items with cash isn't as common as previous years. However, will the concept of cash be forgotten?
I believe the concept of using will continue throughout the future. Most people just use credit and debit cards for major transactions and not for purchases that cost large amounts. I think that ApplePay isn’t something that will develop into an everyday thing that people use now like credit cards. People use credit cards and debit cards because cards are with banking and financing systems that are trustworthy and reliable. Apple is popular for their technology products not for their finance and banking system therefore I don’t see it having a big impacts on methods of payments in the future.
Having cash makes people know exactly how much they have spent and allows more control of their spending than credit cards and debit cards. Just swiping a card doesn’t have that much of a mental and visual sense of the amount of money that it being spent. The negative about cash is that some retail owners have the opportunity to not report it to the IRS. I believe cash will continue to be used in the future because it’s the only payment method that is 100% safe, unlike credit cards that have the possibility of frauds.
I believe the concept of using will continue throughout the future. Most people just use credit and debit cards for major transactions and not for purchases that cost large amounts. I think that ApplePay isn’t something that will develop into an everyday thing that people use now like credit cards. People use credit cards and debit cards because cards are with banking and financing systems that are trustworthy and reliable. Apple is popular for their technology products not for their finance and banking system therefore I don’t see it having a big impacts on methods of payments in the future.
Having cash makes people know exactly how much they have spent and allows more control of their spending than credit cards and debit cards. Just swiping a card doesn’t have that much of a mental and visual sense of the amount of money that it being spent. The negative about cash is that some retail owners have the opportunity to not report it to the IRS. I believe cash will continue to be used in the future because it’s the only payment method that is 100% safe, unlike credit cards that have the possibility of frauds.