“The need for cash will be around for a long time, but over time it's likely to become the exception rather than the rule.”
This quote was taken from Michael Singer’s article on the ReadWrite Web, Paying It Forward - Online And Mobile Style. Today, we’ve become so dependent on technology for making purchases, handling our money, and managing our finances. I no longer even get a paycheck because it directly deposits into my bank account. If I want to see it, I have a voucher that I can view online. I can pay all of my bills online, and shopping online is very easy. Customer service is becoming obsolete; with pay-at-the-pump and self-checkout, there’s hardly interaction between a sales clerk and a customer.
It is a rarity for me to carry cash; I maybe have only a few dollars on me every few weeks. I use my debit card for everything and nearly every place accepts credit. You can even swipe a debit card to buy a Coke from the pop machine. However, last week, I went to pay for my dog’s stay at a kennel and was quite flabbergasted when they told me they didn’t accept credit cards.
Online money management is a method to simplifying handling cash. It is easier; I no longer have to carry a massive wallet and worry about dropping cash. This form of technology is only going to become more user-friendly and common over time. I’m sure they’ll develop even easier methods to make purchases.