With electronic payments becoming more popular, some businesses are no longer shy about outright refusing cash. Take out your plastic cards or your smart phone if you want to pay your bill! Fortunately, this is always the exception, not the rule. But could it possibly become one day?
Due to the easy access to technology, the limited number of ATMs and the limited opening hours of counter services at banks and cash registers, the use of cash is constantly decreasing. in the country.
Also, let's not forget that it is getting easier to access credit. In addition, loyalty and discount programs promised to cardholders encourage them more often than not to settle their bills with their plastic card.
As a result, the number of cash only transactions is getting lower and lower.
Also considering the manipulation required by employees at the end of the shift, the higher risk of error and the time involved in settling each transaction, there are restaurants that already refuse cash payments.
However, Option consommateurs is concerned about this new way of doing things and asks the government to update the Currency Act. According to the organization, using only electronic payment would be negative for seniors and low-income people, who have different access to technology and credit than other consumers.
Fortunately, in our view, electronic payments are leaving their mark, which would make it more difficult for a restaurant to commit fraud and ignore payment of taxes.
On the other hand, according to Option consommateurs, the traces left by transactions with cards or mobile applications could be used against consumers, in the event of fraud or identity theft.
Eventually, yes the cash will disappear sooner or later. In the meantime, tech specialists will need to find safer ways to regulate electronic transactions, and governments will need to promote access to this technology for all consumers, without neglecting a single group.