It was the year 2000 and something and cash might have just become obsolete with the technology that was coming. Why am I saying this and what will take its place?
Is cash gone
For years we have used this paper money as the main means of payment for something. Then credit cards came around. But still, if you had cash then you could do things. That is the only thing I used for years. I went to a movie if I had the cash. I went out to eat, only if I had the cash. If I didn’t have cash then will nothing happened.
This method came about for the ease of use, I use. So instead of paying for things with cash, checks, yes a check, or credit cards you can use a mobile device to pay for things. Of course, you will have to have money in the account. So how is this done?
- Mobile wallets
- Card-based payments
- Carrier billing
- Like texting
- Contactless payments via a Near Field Communication (NFC)
- Direct transfers between the payer and payee bank accounts.
I will talk about all the above at a different time. Let’s just say that this is a major game changer and I for one is very happy that it is here.
The ability to have your phone in your hand or your watch and pay for something it is so nice. I don’t usually have cash on me. Since it disappears quickly. I love the use of mobile payment options. No cash isn’t gone it is still around and will be for a long time.