Why you should go cashless now
Credit to Author: RICKY PUBLICO| Date: Wed, 28 Aug 2019 17:20:06 +0000
If you’re a tech-savvy individual, this column is not for you. This is for the laggards who take their sweet time adapting to the latest tech out there. This is for those who need to get on board and join everyone in experiencing the convenience of a cashless economy.
Having cash in the form of paper bills is fun, but times are changing. The country is slowly accepting cashless payment options as the new norm, and eventually we will excel at it. To convince you further, check out the benefits of going cashless below.
Send and receive money
Sending and receiving money have always been complicated, especially for breadwinners in the metro and OFWs. Where is the nearest remittance center? How long will it take to send the money? What IDs do I need to receive the money? How much are the extra fees? What happens when there’s a financial emergency?
Enter online banking and its convenient ways. Banks already have dedicated apps to facilitate money transfer from where you are. You can also connect your bank account to digital wallets that can make sending and receiving money a lot easier. You don’t have to head outside to send money and your loved ones don’t have to wait for days to receive it.
Pay your bills instantly
Have you ever experienced spending one day falling in line at Bayad centers just to pay bills? Not really a productive use of someone’s time if you ask most people. You’ll also end up dealing with slow service due to understaffed centers, managing piles of faded receipts, and missing payment deadlines because of all three reasons. If only there was a better way.
And yet there is, thanks once again to dedicated online banking apps and digital wallets. You can pay almost any type of monthly bill in these apps. You can even pay other business and government transactions in just a few taps.
Carry less cash
Do you enjoy carrying a bulky wallet or coin purse? Most Filipinos don’t, especially when they are in a crowded area. And when it’s time to buy something, you have to count coins and bills and pocket more change, making your wallet bulkier. Now imagine if you can just tap a magnetic card to make purchases. That’s how convenient a cashless economy can be.
And here’s a thought: when’s the last time you cleaned your bills and coins? You probably haven’t, which makes them the dirtiest things to touch on a regular basis. In fact, the cash you have right now has touched so many hands that you probably have twice the bacteria living inside your wallet. Talk about a compelling reason to go cashless.
Safe and secure
Maybe you’re still on the fence about going cashless because of security concerns. You probably saw the news about companies getting hacked and immediately swore not to try anything new. As long as you keep practicing various online security measures, hackers are the least of your concerns. Besides, you are more likely to get robbed than hacked.
Speaking of getting robbed, if your card or your phone gets stolen, you can easily have your account frozen or cancelled. And unless it’s a credit card, the robber will have a hard time using what he stole because debit cards and smartphones are protected with passwords and other security features.
You’re probably sick of people trying to convince you to upgrade your ways. But there’s no denying that the future of our economy will revolve around tapping, whether it’s through cards or through your smartphone. If you can’t beat ‘em, join ‘em.
And if change really scares you that much, try adopting the cashless system slowly but surely. You don’t have to give up carrying cash altogether, just don’t deprive yourself of the convenience a cashless system can bring to the table.
Ricky Publico is a content writer at Moneymax. Save money on car insurance, credit cards, and loans when you compare and apply at www.moneymax.ph! Visit their website to know more.