Media headlines are flooded with stories that foretell the end of cash as a transactional medium. Chip readers, mobile phone payments, and other cashless methods certainly serve their purpose, but they are not a complete replacement for cash. Cash is still very relevant and shows no signs of going away.
Many Americans still do not have bank accounts meaning that cash is their only method of payment. In fact, data suggests about 50% of transactions under $10 are conducted in cash. Furthermore, cash is tangible, transparent, and anonymous compared to any other method of exchange, making it extremely prevalent.
At the end of the day, cash remains a prominent means of conducting transactions, and it isn’t going anywhere. Visit www.Tidel.com to learn more today.
