# Will We Become A Cashless Society?

**URL:** <https://community.emma-app.com/t/will-we-become-a-cashless-society/2463>\
**Category:** Money & Budgeting\
**Created:** [July 10, 2020, 8:40am UTC](https://community.emma-app.com/t/will-we-become-a-cashless-society/2463 "2020-07-10T08:40:55Z")\
**Posts on this page:** 2\
**Page:** 2

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**Author:** ![Joel](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/joel/32/571_2.png) [@Joel](https://community.emma-app.com/u/Joel)\
**Post date:** [July 23, 2020, 11:10am UTC](https://community.emma-app.com/t/will-we-become-a-cashless-society/2463/21 "2020-07-23T11:10:23Z")

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> [@joeperris](#):
>
> others couldn’t organise a keg party in a frat house

![](https://media3.giphy.com/media/v1.Y2lkPTc5MGI3NjExeGtjYm4yc2hhc2N0ZHQyM3JldjlmN2ZmZjR0cHM0aWg5MGY3c2o0MiZlcD12MV9pbnRlcm5hbF9naWZfYnlfaWQmY3Q9Zw/mC23jMC11YlLeueFRO/giphy.gif "United Kingdom GIF - Find & Share on GIPHY")

😬

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**Author:** ![rebekah](https://yyz2.discourse-cdn.com/flex030/user_avatar/community.emma-app.com/rebekah/32/1091_2.png) [@rebekah](https://community.emma-app.com/u/rebekah)\
**Post date:** [August 6, 2020, 1:05pm UTC](https://community.emma-app.com/t/will-we-become-a-cashless-society/2463/22 "2020-08-06T13:05:59Z")

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Continuing on the topic of cash… this was on today’s [Robinhood Snacks](https://snacks.robinhood.com/) newsletter & seems the pandemic is definitely moving us toward an even more cashless society. Also mirrors some of the things we’ve been talking about above…

" **Haven’t touched a $20 since 2019…** Turns out that contactless payment options thrive during a pandemic. Last week, Venmo-owner **[Paypal](http://sg.robinhood.com/ls/click?upn=6fntGirSE5selsQKrSSUHk6R8tCrM-2FUICq73HMQolwVDuE6C2cWglUPLu6bKWIDODG7C_DhiKG-2Ftw-2BMAWI9uJ7mEl-2FhSw0Pu9HJ7Jr5xOpWUmNVi6VZ7MdGbphXjXfMxbRYIcHC-2BrRQs23SoSTI4iI7avsfH47VMdr45unNeKvmqxSHUZ4oPqrtsA-2FOSBSvpRHPeU4ttALzIKpM8UJ-2FP4ntMuWIATYAI5UQZao9WE1yg7BGM3Gi9v1IJlJ251CfaBVLaNG6-2BUQ7C1lEo7nLsLgNC6HdnEnk-2FPD8MUr6yRF9Elx7ihVJ7DerC4eAPm55g2G6GBqM5oToazwJ6rookEWXDo-2FBhR2GjoiB6YAWKMDdaTvv9iQQIZAxjAxxUNJXHjMwnk2CH-2FGsW0kWqsU9v-2FQPAFlMsjGHMkf-2FrCTnk0kcid2E7HhYhsiXyjXGJxBYhEeoKThFbeUN2bnlSwcNuAItcdTDjn9eHwTNn1uuxqIa-2FThQbPS37zlwQnHqX7ghvCwefpNzePXkmBPyHWHemVgiCn0A-3D-3D)** reported its [strongest](http://sg.robinhood.com/ls/click?upn=6fntGirSE5selsQKrSSUHmzIAM63QbxqV4-2F9XLDflFqWpsKiHMDivYTpL0hHS3mMo4uP5E7eOtCVfIi02-2FXOHgO-2FOB2Hspjc16QEOB1366sQesH2pfFDdhCVTST8irJLY18NLCaKexeY11GmqJOwwKIR1F93mxy8d-2FUK-2B9G3Yeg-3D3RnE_DhiKG-2Ftw-2BMAWI9uJ7mEl-2FhSw0Pu9HJ7Jr5xOpWUmNVi6VZ7MdGbphXjXfMxbRYIcHC-2BrRQs23SoSTI4iI7avsfH47VMdr45unNeKvmqxSHUZ4oPqrtsA-2FOSBSvpRHPeU4ttALzIKpM8UJ-2FP4ntMuWIATYAI5UQZao9WE1yg7BGM3Gi9v1IJlJ251CfaBVLaNG6-2BUQ7C1lEo7nLsLgNC6HdJsYs5E3RfDfphmWg8nULmqsYNEAHrRqxXVmqJ0XaHSk5j-2BvvgrrKIx33U6Aee0eN0yLGnqZX2JbGoUaKnpdvT0hGfhM-2FDjo2OFjP-2F2ZAEKZCkO3OkHI2fJFK3nAWIConqRg0MtyKgljvUpUF8-2BiUKELr99J232flmTmzoS24T6dy86ukc0aYpuSRvw3HgvUKCa9OcoiJNvD2KJ1s9W5-2FhJ5ZUHJYTF-2B-2FlxBk9BNx7qcknHtvl8hv8ec3wZYAYfww-3D-3D) quarterly earnings _ever_ . Profit surged 86% on lockdowns and germ-avoidance.

- **70% of people “fear for their health”** at the cash register, according to Paypal. That helped it add more users in 3 months than in all of 2016.
- **"The death of cash"** is accelerating thanks to the rise of digital payments. Credit cards hurt cash, but QR codes and digital transfers could kill it.

THE TAKEAWAY  
**The “Death of Cash” has a dark side…** There are no truly cashless societies (yet), but some are close — Only [2%](http://sg.robinhood.com/ls/click?upn=6fntGirSE5selsQKrSSUHsAReu5K6nix78k1BY8aQaEE-2Bnqzz9z5roI6S46Jw3a9uZRyRUuGOgJdSmkt2DFXNrNTP3o9J5CRCbyLCxMEQ6U-3DMp4U_DhiKG-2Ftw-2BMAWI9uJ7mEl-2FhSw0Pu9HJ7Jr5xOpWUmNVi6VZ7MdGbphXjXfMxbRYIcHC-2BrRQs23SoSTI4iI7avsfH47VMdr45unNeKvmqxSHUZ4oPqrtsA-2FOSBSvpRHPeU4ttALzIKpM8UJ-2FP4ntMuWIATYAI5UQZao9WE1yg7BGM3Gi9v1IJlJ251CfaBVLaNG6-2BUQ7C1lEo7nLsLgNC6HX5xJkDkXccadCQSBzmNvFSePC3Ycxn6oFH4qx8GcIZIAVWrA4zaXpJxgape3DzH-2Bh80DN02EP6MKlnrR8x9bwubIWCMXdh1jsgue1uoRwqeQxkBgBNg-2BbEkdbC4L1j-2BJaJ70xFdnjEhVX8Bj4kVoGHUMEtmJSsBuqjTd9-2FLGbVeZQteuegaXg3k6kGeL-2BPvUZAumFhbOx3ysDcsN2z-2BZlCv-2FPmzqER-2FxpQ0NnIjqzwQSvzL3wi7MSAlNhNHtrgO-2Fg-3D-3D) of Sweden’s transactions are cash and QR code payments are prevalent in China through apps like WeChat Pay. While a more cashless America could lower crime, it could also infringe on privacy and hurt lower-income segments. Going cashless increases the digital divide when [6%](http://sg.robinhood.com/ls/click?upn=6fntGirSE5selsQKrSSUHj-2FnoDF1rLZFSSyi1PaajtcuFOOlC0cYqO8evpnKQFOCfXysRIWwLWwakMQEJ88CXBmvZQ3VeZk0XkL3hOtAYCFruwvmXs2cEgcHgKLYHIs9lLBz_DhiKG-2Ftw-2BMAWI9uJ7mEl-2FhSw0Pu9HJ7Jr5xOpWUmNVi6VZ7MdGbphXjXfMxbRYIcHC-2BrRQs23SoSTI4iI7avsfH47VMdr45unNeKvmqxSHUZ4oPqrtsA-2FOSBSvpRHPeU4ttALzIKpM8UJ-2FP4ntMuWIATYAI5UQZao9WE1yg7BGM3Gi9v1IJlJ251CfaBVLaNG6-2BUQ7C1lEo7nLsLgNC6HbOOilp3M1nM97SJsKK0VsQ1FLDRClKem7E-2FHXILJ6QAHOPXWF1IAk-2BwAJhaS4hcnpXt3u8-2B2aU1GLPebwsJBEa7MSk-2BjVppNkRgxTisNOHNIkk9U0oYwzG27AEFFLkzvH8IgZvDBZtEEv0sqINOuTK-2BeY8Mz-2FYht-2Bh-2F1veHpngfqKeHWmAZBqxCAXjk9TlYmnCdaf9PIRPVS0gNAz1eHAr3XMnPo8B1jPiOpjyVbTc7Lew8I4e-2FzX-2Ff07VBkUeC5A-3D-3D) of American adults have no bank account and 16% are underbanked."

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