Cash and coins have been an effective way of trading for hundreds of years, but they could be about to become obsolete. In the modern age, do we really need to hand over paper and copper to one another when we have efficient digitalised methods that achieve the same end?
The answer to that, most would agree, is no. Online payments have a plethora of advantages over physical options, and many people in the UK are now getting used to the concept. Warrington has already made huge leaps forward on the journey towards becoming cashless and could be considered one of the leading towns in the UK.
Warrington Has Made Various Big Leaps Forward
The Big Issue recently gave its sellers the chance to move away from cash and to use contactless technology instead. More than 1000 vendors up and down the country, many of whom operate in Warrington, can now easily sell their magazines and collect their earnings via a smartphone app.
This is just one of many forward-thinking moves that people living in Warrington and its surrounding area will have noticed in recent times. There are numerous other places that have gone cashless as well, including car parks and bus travel. Being able to transfer funds with a smartphone has enhanced the efficiency of these things, with people no longer having to root around for change. More shops than ever are going contactless as well, and once tills are fully abandoned there could be a massive reduction in crime.
Residents Should Familiarise Themselves with Digital Finance
Most people are used to now being able to make purchases by simply tapping their cards on readers, but it’s wise to get accustomed to the various other ways that you can manage finances online. There’s a good chance that after cash, cards will be the next thing to go, with online options replacing them. Digital wallets like Apple Pay could soon rule the roost, as they negate the need to ever pull out a credit or debit card.
Online platforms are also becoming the best way to invest and trade now, with interest in cryptocurrency on the rise. Some people believe that digital currencies like Bitcoin will one day replace fiat currencies, so it may be a good idea to learn about these now as well. Bitcode Method is a great way for beginners to get used to trading cryptocurrency, as it provides a lot of information about how to invest. It’s also free and safe for everyone to use, and all you have to do is set it up with a verified email address.
According to Unbiased, cash payments in the UK could fall to as low as 10 per cent in the next 15 years. The article warns of the risks of “sleepwalking” into this scenario, and people need to be prepared for this eventual future. Now is the time to get used to online payment methods.
Luckily for Warrington residents, the town appears to be one of the leading places in the UK for digital payments. That means people here will have a great chance to grow accustomed to this future before it fully arrives.
1 Comment
ePayments are certainly more convenient, but would it be wise to consign “cash” to the history books?
As has happened, recently, what back-up would be in place if “t’interweb” crashed, possibly as a result of cyber attacks by our Eastern European cousins? Or, indeed our friends across the water from Japan?