T He Death of Cash

In: Business and Management

Submitted By mrslanclos
Words 1932
Pages 8
tHE DEATH OF CASH Is cash on its way out? Americans carry cash less and less, often due partly to new technology and a desire for convenience. The way we pay for things has changed immensely over the past century, we now use cards, computers, and even mobile phones to pay for everything from our morning coffee to a taxi cab. Yes, technology is changing drastically, but what does it have to do with "the death of cash?" In this research paper I will define what is meant by "the death of cash," how studies show this may take place, and reasons why it may or may not be a good idea. Cash has been on the decline for a while. Bills, health insurance, rent and most day to day necessities are most likely not being paid by cash, ever since the making of credit/debit cards and the invention of e-payments.The way we bank is changing everyday thanks to online technology and smartphones. Most banks now allow you to transfer money and pay bills online. Some have systems that allow you to deposit funds with just a picture. And some allow you to swipe your phone over a reader in order to pay a cashier.As people become more comfortable paying with credit cards and electronic payment options, cash will become less important, hints the quote, "the death of cash." The Death of Cash article talks about an up and coming Company by the name of Square. Square is, as it says on their website, the easiest way to get paid, and to pay. Some of Square's products are the Square Card Reader, Square Register and the Pay with Square app. The Square Card Reader allows you to accept credit cards using your mobile device. The Square Register app allows you to accept credit card payments on your iPad. The Pay with Square app allows you to buy items directly from your mobile device without having to reach for your credit card, (squareup.com). I remember when Pay Pal first came out, claiming to be…...

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