Should we say goodbye to cash in 2016?
Posted Dec 28, 2015 7:12 am.
This article is more than 5 years old.
Chip, tap and digital apps: with all the new technology, do we really need cash anymore?
Some are suggesting 2016 could mark the beginning of the end for paper and coin currency.
An online survey by payment processing company Moneris, found nearly eight in 10 respondents would rather pay by debit or credit card, and 65 per cent say they very rarely use cash.
The director of brand management at Starbucks Canada says one in five customers use mobile devices to pay, and the growth over the past year or two has been huge.
She says the biggest advocates are those who are already on the program; they’re telling friends and peer pressure is pushing people to switch.
A credit counselling expert warns without the physical contact of money, some people may miss a cue that tells them to think twice about spending more than they should.
