Why do we pay “cashless”?
Many stores we go now have cashless payment, and we see people paying with just a “tap”.
Why do those people pay “cashless”?
To start with, it’s fast and easy to pay cashless.
Have you ever had an experience having to wait in long line?
With cashless payment, all you have to do is to tap, and that’s it. You don’t need to look inside your wallet to count the cash. This convenience is not only good for customers but also for sellers.
Going back to the example of having to wait in a long line, we sometimes forgoes what we want to buy. But with this easy and quick payment, we can purchase what we need (sometimes more than what we need) and it is good for economies.
Second benefit is security.
Cash can be easily targeted by thieves because when they stole a cash, how can we prove that it was ours? We don’t write our names on cash, so it will be hard to prove the ownership of cash. However, with credit card or any other cashless payment, there will be prove, and even if you dropped it, you can just call the company and makes the card invalid.
Third benefit is data collected.
By paying cashless, your data of personal preferences seen from your purchases will automatically recorded electrically. This helps businesses owners collect the data easily, so that they would know what to sell and what to not.
Written by A.O.
Resources
LiveinPay. (2018, May 23). How a Cashless Society Benefits Both Merchants and Users. Retrieved June 27, 2019, from https://medium.com/livenpay/how-a-cashless-society-benefits-both-merchants-and-users-a1e882791d01
TechReCaps. (2018, April 28). The Pros and Cons of a Cashless Business. Retrieved June 27, 2019, from https://medium.com/@coinrecaps/the-pros-and-cons-of-a-cashless-business-f18693a02d38
Why do those people pay “cashless”?
To start with, it’s fast and easy to pay cashless.
Have you ever had an experience having to wait in long line?
With cashless payment, all you have to do is to tap, and that’s it. You don’t need to look inside your wallet to count the cash. This convenience is not only good for customers but also for sellers.
Going back to the example of having to wait in a long line, we sometimes forgoes what we want to buy. But with this easy and quick payment, we can purchase what we need (sometimes more than what we need) and it is good for economies.
Second benefit is security.
Cash can be easily targeted by thieves because when they stole a cash, how can we prove that it was ours? We don’t write our names on cash, so it will be hard to prove the ownership of cash. However, with credit card or any other cashless payment, there will be prove, and even if you dropped it, you can just call the company and makes the card invalid.
Third benefit is data collected.
By paying cashless, your data of personal preferences seen from your purchases will automatically recorded electrically. This helps businesses owners collect the data easily, so that they would know what to sell and what to not.
Written by A.O.
Resources
LiveinPay. (2018, May 23). How a Cashless Society Benefits Both Merchants and Users. Retrieved June 27, 2019, from https://medium.com/livenpay/how-a-cashless-society-benefits-both-merchants-and-users-a1e882791d01
TechReCaps. (2018, April 28). The Pros and Cons of a Cashless Business. Retrieved June 27, 2019, from https://medium.com/@coinrecaps/the-pros-and-cons-of-a-cashless-business-f18693a02d38
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