Generally speaking, the people believe that next generation will not be using cash for basic transaction, instead of that using paper currency, everyone will be transformed to digital world by utilizing their credit card and other form of electronic payments for shopping. From my perspective, I partially agree with the statement that most of citizens will be moved towards automation settlement methods. However, there are certain people still refuse to use their debit cards.
With regards of future payment methods, the main reason why public will prefer to use bank card to complete transaction is because it is easy to carry with their wallet. In addition, when the citizen wants to make a larger number of transactions, they usually carry a bulk amount of currency paper with them. Eventually, this invention it makes them to feel comfortable, when they do a huge amount of settlement. For example, most of the data scientist found that people are spending a tremendous number of wealth using their electronic cards.
On the other hand, the primary reason still now a few people are strict to use their phone to make payment is because of security threat. Furthermore, the development of bank card made easier for bank account holders as well as it also makes a simple way to loot resources from others financial institution locker by hackers. To an extent, it also helps the hacker to steal their personal information, and they sell it in dark web. For instance, most of the experts said, because of this incident traditional thief are started to learn about hacking.
All in all, there are certain people will always prefer to use cash for transaction, even the world is developing with new technology. From my point of view, what I suggest to the public, please add two-factor authentication security layer to complete a payment.