With technological advancement, it is conceivable that digital payments will replace physical money and people will not be able to pay in shops unless they use a card or phone. However, some individuals might not be satisfied with this event.
There are several reasons why I think cash may eventually become obsolete. First of all, carrying cash is not a secure option and it is against the safety measures especially when someone wants to buy an expensive item. There is the risk of robbery and theft with cash while with cards, people can easily call their banks and ask for locking their cards. Moreover, it requires a PIN to make payments above a certain amount. Another reason is the environmental benefit of this trend. Producing paper money takes a lot of resources such as trees, water and human resources.
On the other hand, If this event were to occur, some people would be unhappy with it. Certain demographics such as elderly people or those with limited access to technology may struggle to adapt to a cashless system. For example, my grandfather even does not have a smartphone and he does not know how to use it. Another group of people who might not be satisfied are business owners who do not want to pay taxes to the government. Last but not least, are those emotionally connected with the sense of holding money. They believe that it can help them feel wealth and manage their budget in a more effective way.
In conclusion, while it is inevitable that digital payments eliminate the need for cash, there are always people who are against such changes.
