Several countries around the world have moved quickly towards cashless societies in the last five years, most notably China and Denmark. As electronic payment apps, debit cards and credit cards replace paper currency, governments, bank and corporations delight in the level of control this allows them over the population. The United States has held out longer than other countries, but now has started to show signs that cash, and the freedom it brings, is on the decline. Businesses, from Starbucks to Sweetgreen, are now experimenting with no-cash policies at some locations and debit/credit/app only policies are
creeping into other sectors as well. The Church of England has now adopted electronic payment systems such as Apple Pay, Android Pay and the major credit cards. Not yet abandoning cash, the introduction of the new payment systems is a response to a social movement that is increasingly rejecting cash. Though the numbers are not easy to track, the number of young adults who pay their bills, send money to friends, fill up their cars and buy groceries all without touching cash is growing to the point where some financial experts believe that today’s teens may, in another decade, be the first cashless generation in the United States. READ MORE