People may no longer be able to pay for things in shops using cash in the future. All payments may have to be made by card or using a payment application by phone. I think this idea has a high possibility to come true. This days, many people in Indonesia are using Qris or a payment method from a phone to buy things. Many shops in Indonesia such as restaurants or local shops are using this method this days. Moreover, there are some benefits and weakness using card or phones as a payment method.
Firstly, using a card or Qris can be beneficial for buyers because there are many discounts and promos. There are many restaurants such as KFC or McDonald’s give a promo or discount if the buyers using a card for the payment. In example, the buyers can have a promo while their card’s bank is on it’s anniversary. They will give the buyers many promos for buying food in a restaurant.
Secondly, there are exchange points that the buyers can collect if they have many payment transactions by using a card or Qris. These points can be beneficial for them because they can exchange the point in to a promo or discount. If they do more transactions, they will get more points.
Moreover, there are some weakness for the sellers because they have to pay an extra tax for using a card or Qris. In example, if the sellers want to withdraw they Qris’s balance, they need to pay a 2.5-5% tax for the application service. Secondly, the sellers also have more tasks to do because they need to exchange the card’s or Qris’s balance to a cash for buying shop’s materials.
In conclusion, there are some benefits and weakness using card or phones to pay for things in a shop. But, in the future we won’t be able to just using card or phones, we also need to using cash.