Article | January 8, 2019

Why Cash Won't Disappear Any Time Soon

By Breanna Brown, APG Cash Drawer

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The debate over whether we should become a cashless society shows no signs of abating soon, but in the meantime plenty of compelling reasons remain for using cash in a variety of situations.

While some businesses are embracing cashless payments, and the whole country of Sweden is moving in that direction, cash isn’t about to disappear. Too many businesses still depend on coins and bills to sell their wares. Cash remains king at fast food restaurants, for instance, where 41% of the business accounts for cash transactions. Cash also remains a significant portion of business at gas and convenience stores (33%), mass merchants (32%), restaurants and bars (26%), and warehouse clubs and food stores (25%), according to IHL.

With so much business still conducted in cash, don’t expect it to disappear any time soon. Besides, some customers cannot pay with anything but cash, since they are unbanked or under-banked.