Dear MEL
Topic Readers,
The
countries where cash is on the verge of extinction.
A charge
to deposit cash? For many, it still sounds unbelievable. But in some countries
where banks see cash is just burdensome means of transaction, they discourage
their customers to deposit or withdraw cash from their accounts by charging
fees. More surprisingly, at least for now, many stores, ranging from small
bakeries to supermarkets, take only or at least mainly cards or electric
payments.
This cashless
trend doesn’t seem to stop only within efficiency-obsessed Netherlands or
Scandinavian countries. In America and China, payment via smartphones is
getting popular. Even in Africa where there are very few banks to handle cash
transactions, mobile phones are becoming their de-facto payment and transaction
means.
In an
era when children are growing with smartphones, the day cash is seen as just a
piece of paper may not be so far in the future.
Enjoy
reading and thinking how cash-dependent you are.
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