Cash Is Not King
Cash Is Not King
Remember the days when cash was King?
You could walk into most retailers and get serious discounts for cash; in fact, The Good Guys here in Australia made a brand out of it.
Well, not anymore. Just a couple of weeks ago, my wife and I enjoyed a delicious Sunday morning breakfast at a café in North Adelaide. Upon paying the bill, I happened to have cash.
Rare for me admittedly but I did.
To my disbelief, the cashier refused to accept it saying they “…no longer accept cash, card only”.
I was taken back.
Really? A café that doesn’t accept cash? Understandable I guess for large ticket items given security issues around cash handling. But a café?
I kind of get it for health reasons in the peak of the pandemic too.
But this is Adelaide. The cleanest state in Australia, no reported cases for months. I had never heard of this before and was honestly shocked.
So, what’s the deal?
Some say it’s a COVID 19 safety issue.
Some say it’s a conspiracy and that the world banks want to keep hold of our money to control its flow.
It’s public knowledge that the banks are pushing for a cashless society. But let’s avoid the conspiracy theories and really think about how that would affect our daily lives.
Does everyone carry plastic? What will the homeless do? Can we still get great deals? Will the charity tin suffer? How will we play two up? Will ‘The Good Guys’ need to rethink their TV ads and how will we decide who bats first?
But joking aside, how will a cashless society affect our day to day lives and is this the end of
anonymity as we know it?
In this humble ad guy’s opinion, retail and hospitality has suffered enough and this can surely only provide yet another barrier for the consumer to overcome.
Aside from that, there’s something fulfilling about handing over a crisp $50 note and something even more joyful about receiving one.
Will our kids and grandkids ever experience the surprise and excitement of a pineapple
falling out of a birthday card or are we now reduced to giving them a bank transfer note?
It’s a scary world out there and if cash is no longer King… who or what is?