In some countries, the use of cash has reduced, but how does that affect society? Will cash disappear entirely?
We don’t believe that cash will ever disappear…
Do you know why cash is a safe bet?
There are up to 2 billion people in the world without a bank account. So, they depend on cash.
Cash is universal. It is everywhere and is a method of payment with which makes people feel safe, because it doesn’t fail. In spite of, a credit or debit card can fail or you might have some troubles with it. The card might not be read correctly at the time of payment. You might even have the issue where the business doesn’t accept cards or simply that you don’t want to be charged commissions for using it abroad.
In addition, when you buy something with cash, there is no doubt about whether a transaction was made or if there was some complication in the procedure. Sometimes, you may find yourself in the situation that your card has been blocked by the bank or you are simply waiting for the money to be available in your account. It may happen that your card was used fraudulently or is in the middle of a customer-dealer dispute.
Endless things could happen!
Therefore, even though technology advances, cash will always be the more secure method of payment.
Another reason why it is also recommended to always have cash with you is that some stores only take cash. You go to the till of a local store to pay and you find a sign behind the employee saying “minimum payment with card is 20 euro/pounds” or “cash payments only”. If you haven’t got any cash on you, you’ve only got two options left:
- Find an ATM near you
- Leave your shopping behind
Has this ever happened to you?
There are good reasons on the part of businesses to set these standards. For each credit card transaction that is made, the owners have to pay a card transaction fee. This rate varies depending on the card that has been used and the type of business. (It can be more than 3% per transaction!)
For this reason, Euronet ATMs propose a simple and safe way for your business to always be available to customers. Thus, not losing customers for this type of problem. Our proposal is to commit a small space in your business to put one of our ATMs. This way, you will offer an additional service to your customers (and potential new customers) and also increase your footfall and sales. You will also not have so many expenses in the commissions per transaction since more people will go with cash in their pockets.
With the potential errors in digital payments, we are confident cash will continue prospering. And with our ATMs you can provide your customers with an additional service, giving access to cash.
“Secure Financial Transactions, Any Time, Any Place.”