The long-awaited death of cash may finally be coming

CNET | 4/26/2018 | Erin Carson,
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The Bonnaroo Arts And Music Festival in Manchester, Tennessee, went fully cashless last year.

This story is part of "Follow the Money," a look at how digital cash is changing the way we save, shop and work.

Bob - Anstett - Soda

Bob Anstett just wanted a soda.

He was on a work trip in St. Augustine, Florida, late last month, and one morning thought he'd pop into a nearby Dunkin Donuts. While standing in line, he noticed a sign on the cash register -- cash or nonchip cards only.

Bottle - Fridge - Gas - Station - Payment

So he put the bottle back in the fridge and walked over to a nearby gas station that would accept his payment.

Anstett, 52, from Fort Lauderdale, hasn't used cash for about three years. He doesn't even carry an emergency $20 in his wallet.

Wife - Track - Finances - Management - Service

That's because he and his wife wanted to keep better track of their finances. Using financial management service Mint, Anstett knows that in 2017, the couple made 1,414 transactions, including 609 for food and dining.

No transaction is too small for a credit or debit card.

Accountants - Laugh - 'Here - Grocery - Store

"[My accountants] laugh at me," he says. "They'll be like 'Here you went to the grocery store and spent a $1.50?' and I'm like, 'Yeah, I just had to buy a soda.'"

Anstett may be a little ahead of his time, particularly in the US, but perhaps not for long.

4:32

The idea that cash would eventually be killed off by cards, mobile payments and e-commerce has been kicking around for decades. But even with all of the new gadgets, apps and services that aim to wean us off bills and coins, roughly 85 percent of the world's retail transactions still rely on cash. Just 5 percent of Americans surveyed last year by US Bank said they never use cash, putting folks like Anstett in a tiny minority.

Cash - World

We're still living in a cash world, but...
(Excerpt) Read more at: CNET
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