What are disadvantages of using cash for payment
We looked at the disadvantages of cashless payment, now we will be looking at the cash disadvantages. Living in Japan we use cash everyday and is hard to find any disadvantages.
But I was surprised when I did a little but of research.
It is said that a average person wastes about 30 minutes a month traveling to an ATM, or 5.6 hours a year. The number might not seem very much but it is time that we are just throwing away for using cash instead of cashless. And if we were to use that time to work and earn money at the mean wage, which is about $31 billion we are missing out on annually.
Wile, R. (2014, February 03). 13 Reasons Why Cash Is Terrible. Retrieved from https://www.businessinsider.com/why-cash-is-bad-2014-2
But I was surprised when I did a little but of research.
It is said that a average person wastes about 30 minutes a month traveling to an ATM, or 5.6 hours a year. The number might not seem very much but it is time that we are just throwing away for using cash instead of cashless. And if we were to use that time to work and earn money at the mean wage, which is about $31 billion we are missing out on annually.
Researchers from Wright Patterson Medical Center asked 68 shoppers at a grocery store to swap dollar bills they were holding with clean ones. They got the following results:
- Eighty-seven percent were contaminated with bacteria that could cause an infection in anyone with a compromised immune system, such as people with HIV or cancer.
- Seven percent had bacteria that could cause an infection in perfectly healthy people.
- Only 6% were completely clean.
I always knew that money was dirty, but didn't think that it could lead to any kind of diseases. This research was done in the U.S so things might be different for people like me who are living in Japan. However that doesn't mean that Japans cash is clean, we need to make sure that we wash our hands after touching cash.
Wile, R. (2014, February 03). 13 Reasons Why Cash Is Terrible. Retrieved from https://www.businessinsider.com/why-cash-is-bad-2014-2
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