We live in an age of endless possibilities. Digital currency and electronic transactions have made it possible for us to live in a cashless society. Just imagine that we can possess wealth and still have nothing. Wealth will no longer be something you can hold in your hand. It isn’t gold or cash, but a piece of digital information on your credit or debit card.
Therefore, stores in America have taken the first step towards living this new reality by refusing to accept cash. Imagine going down to the grocery store to buy some milk, bread, and eggs. You take out your cash and find no cashiers to accept your payment at all. Soon, this could be a reality. Is it legal for stores to refuse cash? Yes. Can a store refuse cash? Well, it’s bad customer service, but yes they can! We’re going to show you why this is happening and how you can get used to it.
How Going Cashless is Better for Business
If you think that cash is good for business, then you’re gravely mistaken. Retail outlets across America are jumping with joy about their new ‘No Cash’ policy and here are some of the benefits:
- No More Sick Days: Employees will have less of an excuse to be absent from work because of being sick. Why? Paper money is just one of many ways both customers and store employees can get sick. They can carry a whole ecosystem of germs. Going cashless means avoiding all of this. As a result, all transactions will be through using a debit or credit card.
- Nothing in the Register to Take: Believe it or not, cashless stores are doing armed robbers a favor. Now, would-be thieves will know they’re wasting their time trying to hold up a store that doesn’t accept cash because there’s nothing in the register! All earnings are digitally stored! So customers and store employees will also be safer.
- No More Employee Sabotage: No matter how many security cameras a store might have, it is easy for any store employee to slip ten or twenty bucks in their pocket. They have constant access to the register. However, going cashless means getting rid of all of the cash that could be potentially stolen. Employee theft will be reduced significantly.
Out with Old & In with the New
- Fake Money will be No More: You can’t imagine how much a business could lose if counterfeit money was more common. Going cashless would completely eliminate that threat.
- Throw Out the Cash Register: Cash registers are old and outdated. Some of them are slow and can malfunction. As a result, cashless stores will be replacing all registers with sophisticated electronic payment solutions to make the process more efficient.
- Faster & More Efficient Payment Process: Using only a store POS system or other electronic solutions will be a much better substitute for the traditional cash register. They’ll be safe, quick, and the customer will be out in no time! The only setback is this could mean stores will be hiring fewer cashiers.
What’s Your Role in All of This?
Times are changing and it’s time for you to adapt to those changes. If businesses like dealing without cash, you can expect that the use of cash will gradually diminish with time. Here are a couple of tips for you to keep in mind:
- Give Stores Your Feedback: First, if you have faced unfair treatment because you prefer cash, you should report this to management. It’s up to them to help you have a pleasant shopping experience. If the store managers don’t do anything, you can always email the store’s corporate office for more feedback.
- Find Payment Alternatives: We’re not talking about getting a credit or debit card. We’re saying that you should consider getting a prepaid card, such as Bluebird American Express. Therefore, there’s no obligation for you to use a debit card or apply for a credit card. You can even use store gift cards to make your payments.
- Be Active in Voicing Your Opinion: Get involved with other concerned citizens who want to fight cashlessness. It’s important that you make your voice heard.
Is Going Cashless Really Good For Us?
The answer isn’t so simple because it depends on everybody’s individual situation. It could be a big relief for some, but it could be an extra burden on others. Some people have concerns about all the extra fees that they will have to pay to the payment providers. Other people might not be tech-savvy enough to live this type of life. The ideal world should really balance cash and electronic transactions. But with our reliance on technology and artificial intelligence, the tide seems to be turning towards gradually pushing people to favor electronic transactions to do business. Here are some key disadvantages:
Kiss Privacy Goodbye
Would you like everybody to know what you shopped for? If the answer is no, then prepare yourself to be extremely disappointed with what we are about to tell you. There is no privacy for shoppers in a cashless world. Every time you swipe that card and buy something, it’s recorded on a database.
No Safety from Cyber Criminals
Nothing prevents hackers from laying their hands on your money other than the sophistication of the security software that they have in banks. But as always, there will always be a way to work around these systems. A world of only electronic transactions is definitely a high-risk world, even if it is fast-paced.
Big Problems with Technical Issues
All these electronic systems used to process transactions and manage bank accounts are not foolproof. Glitches can have serious consequences and in some cases, people won’t be able to access the funds that they need. It’s happened before to certain banks and it can definitely happen again. This is why the IT sector needs to stay on top of this.