As we advance deeper into the age of technology, people are forgoing the use of cash and check payments in favor of credit and debit card payments. Although paying people for their goods and services in cash was once a relatively common transaction, it is now a much less common way to make a payment. You can even pay a person individually with your debit or credit card using an app such as venmo. However, this does not mean that everybody prefers to pay using a card because you can still find people who prefer to pay using cash. Let’s talk about the pros and cons of paying with cash:
You Can Only Spend The Cash That You Possess
If you tend to be rather impulsive with your money, then you could learn better spending habits by using cash to make your payments. Some people may not even feel as if they are actually spending money when they simply swipe their debit or credit cards, but cash is much more visible and tangible. When you actually watch your cash supply dwindle away, you might think twice about going out to lunch or purchasing that moccachino.
People Love It When You Leave Cash Tips
Unfortunately for people in the services industry, they are taxed quite heavily on the tips that they depend upon. Therefore, if you really want to make the day for servers, tip them with cash and they will be so grateful.
If You Lose Your Cash, It’s Gone
If you have a wallet full of cash and it gets stolen, then your cash cannot be recovered. If you report your credit or debit cards as stolen, then you can be reimbursed for the fraudulent purchases. However, once your cash is gone, you cannot retrieve it.
Traveling With Only Cash Is Difficult
When you are traveling, you might have difficulty in making your travel arrangements using cash payments. With the convenience of the internet, you can easily make plane reservations, hotel reservations, and rental car reservations using both debit and credit cards. However, people are rarely able to make reservations using cash payments.
Cash Is Bulky
When you carry large amounts of cash in your wallet, it becomes very bulky and may be difficult to close. Although this certainly isn’t the end of the world, it can be slightly irritating, especially when you are traveling. However, when you choose to pay using debit or credit cards, you can travel light.
To pay or not to pay in cash? In our humble opinion, we prefer to pay using a debit or credit card. With so many easy and accessible mobile payment processing options, paying by card is easier than ever. For those of you who love to travel, paying with a card really is the best option. At Americard Payment, we offer the most accessible payment processing services for a variety of companies. Contact our payment solutions company today to learn more about our mobile payment processing and payment gateway services.
