With the development of the Internet, electronic payment is American express automatic payments becoming more and more popular. Especially in China, with the rapid development of electronic payments such as Alipay and WeChat Pay in China, there is a great momentum to realize a cashless society. It is undeniable that electronic payment makes payment more convenient and faster in people's life and work.
But I think that from the essence of money, cash, as the most basic form of money in modern society, is destined to be the foundation for the long-term existence of cash due to its unfathomable means of payment and wide applicability to complete transactions at any time. Cash payments and digital payments should complement rather than substitute. The following problems arise in an excessively cashless society.
1. The original intention of developing inclusive finance has been lost, so that all social groups can enjoy basic financial services on an equal footing. Since digital payment requires the popularity of the network and the user's operational level to achieve transactions, nearly 70% of the elderly in China have problems with digital payment.
2. A cashless society means that all payments can only be made through payment models established by a few financial institutions. The stability of the platform and the confidentiality of the platform's personal information directly affect the security of users' property and personal information.
image 3. Lost cash has a special function other than as a medium for exchanging goods. First, cash has a cultural value function, and each currency has its national historical, cultural, and educational function. Second, cash is a link for commercial banks to strengthen interaction with consumers.
4. The function of banks as a barometer of national economic development is weakened. In a cashless society, a large number of cash business functions representing banks will be lost, and data on economic trends will be distorted to a certain extent.