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That stat about offline payments scared me straight
I was reading a report from the Federal Reserve last week, and it said 6% of US adults don't have a bank account at all. That is about 8 million people. Then I dug into a study by the Pew Research Center - they found 13% of those with accounts say they rely on cash for almost everything because they are scared of overdraft fees and data breaches. My own grandma is like that, she keeps $300 in her nightstand for emergencies. It hit me that if we go fully cashless, those people become invisible. They cannot buy food at a corner store or pay a neighbor for helping move a couch. Has anyone else looked into who gets left behind if this gets pushed too fast?
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michael_green441mo ago
Yeah, this really hits home. My neighbor across the hall is in her 80s and she still does all her shopping with cash. She told me once she doesn't trust banks because she saw people lose everything in the 80s savings and loan mess. If we go fully cashless too fast, people like her are just stuck. It's not just about being left behind, it's about forcing a system on people who have valid reasons for not wanting in. We need to keep cash around for a long time yet.
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price.ben1mo ago
My buddy's grandpa refuses to use anything but cash too. Tried to pay for a coffee with a card once and the guy just froze up like it was a foreign object. Had to walk him through it. It's not just old people being stubborn, man. Some folks have real trust issues with the whole system.
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