In this modern era, people want to use digital technology to do their daily work. Nowadays, some people want to pay by card or mobile phone instead of using cash while, others always want to pay by physical money due to several reasons. I assume that, there are plenty of reasons that people will never depend on only card payments in the future as well. I will discuss this view and give my perspective as well in the forthcoming paragraphs.
To begin with, despite of some benefits of paying with card or mobile, there are numerous drawbacks as well. First and foremost, people are now too aware of suspicious activities involving their bank details hence they mostly want to pay by cash. There are many websites available that track people’s card details; unfortunately, they have to face some serious fraud with their bank balance. Moreover, if a card is stolen or lost, they can lose the full balance from their bank account.
In this paragraph, I will discuss some reasonable reasons why people want to rely on cards to pay. People can not only get a cash bank but they can also obtain a huge amount of discount while paying by credit card. Apart from that, nowadays, there are too many crowd in public places like public parks and public transportation; consequently, people do not want to keep huge amounts of money with them because it is arduous to preserve it in their wallets. In this technological era, cards can be saved in mobile phones and smartwatches, so they do not want to carry their physical cards with them.
Based on my perspective, people will never rely on cards to pay due to several reasons. Firstly, in emergency situations, cash will help people to preserve themselves. As an example, in an earthquake, cash will help people because in such situations there would be a network issue, so they cannot pay by card without a network. Last but not least, people always have fear of paying by card because of fraud. If it occurs once, they can lose their entire bank balance.
In a nutshell, I conclude that, whether there are benefits of paying by card or electronic devices there are big disadvantages as well; so, people will always use cash to shop as well.