Payment and debit cards are set to take the place of physical methods of transfer. I completely agree with this statement, since using electronic payment is much more convenient and carrying plastic money enhances security.
To begin with, nowadays buying something with digital payment becomes more facile and comfortable. Individuals can complete transactions much faster with credit cards, as a result making shopping easier and effortless. For example, when people are buying something with coins and paper money, they need to count them and hope that the amount of cash is enough, but with bank cards, humans can easily look how much money they have by installing the special application and pay the bills with ease. Therefore, cashless payment cards are expected to replace the traditional currency.
Additionally, using cashless payment methods in the future significantly reduces the risks with paper money. Furthermore, individuals will forget about the robbery or loss with digital payment, thereby enhancing the quality of security. For instance, nowadays, if a card or device is lost in public places, the owner can instantly freeze their account via a mobile app or by a telephone call to a respective bank, as a result saving the funds without losing anything in civic areas. Thus, the adoption of cashless payment dramatically improves the quality of contemporary financial protection.
In conclusion, I believe that in distant future electronic payment, such as credit and bank cards will probably substitute for physical currency, like coins and paper money since cashless payment method becomes more comfortable and improves the level of security.