There used to be a time where I’d make sure I had a modest amount of cash on me at all times. It was often convenient to pay for small transactions using this payment method. And it was one that everyone, both individuals and businesses, accepted everywhere.
Fast-forward to 2015, and I now struggle to pay for anything with cash. No, it’s not because I’m broke and can’t afford to buy what I want. It’s because I seldom see the need to carry cash anymore! Confused? Let me explain my reasoning behind such a significant decision!
Most places accept card payments
The first point I wish to convey is that the majority of retailers accept cards. Let me give you an example of how I bought things yesterday:
- I paid for my cup of coffee and breakfast in town using my debit card;
- I bought my train tickets into the city with it too;
- I also used my debit card to pay for lunch in a trendy cafe with my friend; and
- Before I returned home in the evening, I paid by card when I did some grocery shopping.
Some card payments are faster than cash transactions
When you pay for something with cash, you have to wait for the retailer to count your money. They then have to put it in their cash register and count up your change. Yes, you could speed things up by giving the exact amount. But, in today’s busy world, who has the time to do that? And who has deep enough pockets to carry lots of coins?
Believe it or not, some card payments are a much faster transaction than cash! Contactless card technology is one example that springs to mind. And there’s also mobile payment services too. The way they work is simple: you use your smartphone and hold it against a “reader.”
The transaction gets completed, and a receipt gets emailed to you. That’s right; you don’t even have to hang around for a printed receipt! Some of my transactions listed earlier got completed with my contactless card.
I feel safer walking around without cash in my pocket
Another reason for switching to plastic was, for me, down to personal safety. If someone mugs you and steals your money, you have little to no chance of getting it back. That’s because cash is an almost untraceable form of payment.
If someone stole your bank cards, they would need to know what your PIN is for them. Of course, you aren’t going to divulge that information to anyone. Even if they steal your cards, all you have to do is phone your bank and cancel them straight away. It takes a few seconds to do and lowers the risk of money getting stolen from your accounts.
You don’t have to worry about exchanging money
When you go abroad, Visa and MasterCard are two cards that get accepted everywhere. That means you don’t have to worry about exchange rates. Nor will you need to worry about finding somewhere to change your currency!
