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<p>[QUOTE=&quot;chrisild, post: 1560386, member: 39&quot;]Well, according to David Wolman (link in the initial post) we have about 30 more years until cash is phased out in the US. Plenty of time <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /> and that is one country only ... coins and notes may stay around a little longer elsewhere.</p><p><br /></p><p>By that time, 2040 or so, the means of payment that may be considered modern today - credit cards, plastic tags, cell phones, etc. - could already be obsolete, hehe. But of course handling cash is much more expensive than the cashless alternatives that we have these days. Besides, there is the convenience factor: Most people get cash by going to the bank or ATM and withdrawing money. Nice to have for small purchases, but ... heck, this adds an extra step.</p><p><br /></p><p>For many businesses cash is hardly relevant anyway. Earlier this year I read that in Sweden, for example, notes and coins represent 3% of the transaction volume. (The corresponding figures are 7% for the US, and 9% in the euro area.) Currently it is still expensive to accept &quot;plastic&quot; for, say, a $1 purchase. But that is changing, and I think many appreciate the idea that they do not have to carry lots of cash.</p><p><br /></p><p>Yes, cash is &quot;anonymous&quot;. Plastic could work similarly; Europeans may know Paysafecard for example. However, governments tend to dislike such means of payment, and have partly outlawed them. And cash? The Spanish government decided earlier this year that cash payments of more than €2,500 are against the law if at least one of the parties involved is a business. Not sure whether that is already enforced though ...</p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>

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