How Many People Don’t Use Cash ?
In today’s world, everyone needs money. Money is maybe not the meaning of life unfortunately, we can’t do anything without money. We need it to live! Life is not easy also, life is becoming more and more expensive. The hard part of life is not everyone earns the same and enough amount of money. Well, if people don’t have enough money to cash use what are they doing? Or from the other perspective, why people don’t use cash even they have? Of course, because of technology. Using cash is out! Credit cards on online payments are in! People use that because it makes easier to do shopping if they don’t have enough money in their pocket. Using credit cards or digital payments have some advantages for people who use it. Using technological payment saves people’ time. They can pay it later or pay in installment. On the other hand, using cash have advantages too. Now let’s look who use or don’t use cash money!
Statistics of Using Cash or Credit Cards – Technological Payments For Shopping and Transactions
Netherland’s 50% of them use debit cards. 49.5% uses cash and 0.5% use credit cards
In Europe more than 75% of people use cash. Especially in Italy, this number rises to 83%.
Sweden is the most cashless country in the world.
In Belgium, almost 93% of their populations make shopping without cash. 86% of them have own debit card.
Near to Belgium, France’s 92% of the population are cashless.
United Kingdom’s 89% of people using technological payment.
In Canada, 90% of people use technological payments. 70% of them use credit cards. 56% of them specifically use Paypal.
India’ 98% of people use cash payment.
In the USA lower than 50% of people use cash.
In Germany, almost 80% of people use cash.
Australia’s 65% of population cash payments.
Kenya’s most of the people are cashless.
46% of people have at least 1 credit card. 24% of people have at least 2 credit card. 30% of people have at least 3 credit cards in the world.
What will be In Future and How It Affects People ?
Whether if we like or not, technology is evolving every day. Everything is happening with electronic devices in our hands. Experts say, cash will be stopped and technological modes using will increase. Also, it causes the economy to deteriorate. It is more advantageous for people to save and use cash. A professor of Psychology and Behavioral Economy Dan Ariely’s studies says that using credit cards than cash makes us less honest. Bankers say using technological payment is good for hem but not good for individuals. Likewise Visa, Mastercard, Paypal. Owners of them can’t save cash money in their hands. Maybe they never see their salary on cash, they took it from the bank on their electronic devices and they pay their bills. One of the important ideas about this topic comes from Harvard economics professor Kenneth Rogoff. He supports the elimination of using cash because of preventing underground economies and improving economic policy.