The worldwide online payment company Paypal had more than $10 billion in revenue in cashless transactions last year, while 244 million people have active Paypal accounts, changing the way we pay. With the incredible capabilities of modern technology, more so now than ever before, the power of our smartphones makes spending easy and more rewarding with innovative ways to save. In our current digital age, we may soon enter a time where we no longer use cash for any purchases at all – also removing the risk of contamination from germs that come from cash handling as well as the risk of theft.
Power of cashless payment
Unlike paying with cash, every time you use a credit card, on everyday purchases such as fuel and food, you can save money for a future vacation when you find a card that suits your lifestyle. Credit cards offer many rewards, such as miles for travel, reward points and cashback on frequent purchases we all have to make anyway. Without the hassle of cash, digital transactions are faster, more efficient and automatically create a record for you. Removing this step completely is also much safer for you and your financial security.
Get creative without cash
According to Statista, worldwide revenue for Groupon was $2.7 billion. There are countless free apps that offer many ways to save with purchasing your coupons in advance. Every day there are new coupons available, just a tap of your screen away. None of these require the handling of any cash and most are as easy as simply scanning a barcode. Think about cutting out cash completely from your life: No need to go to travel to an ATM, count out money, make sure you have the correct change or carry the money itself. With no cash to carry, you can streamline the experiences you choose to enjoy more easily.
Not only is transitioning all of your money management online the best way to keep your finances secure, but you can also easily organize your spending and earn additional rewards at the same time. You can reduce future travel expenses, get cashback, and save money on gas, all without ever needing cash. It’s a fast, efficient and fun way to plan out future purchases, all from the palm of your hand.