{"id":6507,"date":"2021-04-14T07:31:38","date_gmt":"2021-04-14T11:31:38","guid":{"rendered":"https:\/\/www.silvercentury.org\/?p=6507"},"modified":"2021-04-14T21:47:20","modified_gmt":"2021-04-15T01:47:20","slug":"cashless","status":"publish","type":"post","link":"http:\/\/78.142.243.82\/~silvercentury\/2021\/04\/cashless\/","title":{"rendered":"Cashless?"},"content":{"rendered":"

As part of my job assisting older people to live independently, I pay their bills by check, as requested. But I\u2019m in my 60s and I rarely write a check for my own bills. I pay them online either at my computer or on my phone. When I get paid by check, I use my phone to deposit it. <\/span><\/p>\n

It\u2019s no secret that we\u2019re moving away from paper transactions toward a completely digital economy. With new payment technologies emerging left and right, it\u2019s important to stay up-to-date. <\/span><\/p>\n

As my <\/span>20-something daughters are quick to remind me, there\u2019s no need to carry cash or credit cards when you have a \u201cdigital wallet\u201d on your smartphone<\/span>. A digital wallet serves as a virtual bank where you can store payment information securely. Your wallet can contain your bank accounts and credit cards, as well as apps that allow you to pay with your phone\u2014without ever touching a keypad, card slot or cashier. <\/span><\/p>\n

These digital, contactless transactions are as secure as the \u201cold-fashioned\u201d payments we are used to. They are much more convenient <\/span>and<\/span><\/i> safer in our COVID-avoidance environment. Apple Pay and Google Pay let you take advantage of this technology\u2014the apps link to your credit or debit card to make contactless purchases from your cell phone. <\/span><\/p>\n

Gone are the days of desperately searching for change or making sure you stop at the ATM for cash. There is no need for money to physically change hands, thanks to PayPal, Venmo and Zelle. Using these peer-to-peer apps, you can send and receive money from anyone in mere moments. <\/span><\/p>\n

My daughter and her roommate use these apps to share household expenses: they split the rent, utilities and groceries, paying each other using Venmo. Because their paychecks are directly deposited to their accounts, and they do their banking online, they never have to leave home or even enter the bank. They don\u2019t carry cash, nor do they expect their friends or colleagues to. While checks may have come with their bank accounts, they\u2019ve never used them\u2014or a deposit slip or maybe even a postage stamp, for that matter!<\/span><\/p>\n

Older adults are becoming more comfortable using these digital payment methods, yet they haven\u2019t given up their checks yet. According to <\/span>a 2020 report<\/a><\/span> from AARP, smartphone adoption is 81 percent for those 60 to 69, but it drops to 62 percent for those 70 and older. When older Americans use smartphones, it\u2019s most often for email, directions, online searches or checking social media, not bill paying.<\/span><\/p>\n

I\u2019ve embraced the cashless society, but even though COVID has pushed us closer to it, I don\u2019t think it will be universally accepted for a while. Not everyone has a smartphone, and it takes time to become comfortable with using the technology. It\u2019s important that banks and merchants don\u2019t marginalize people who aren\u2019t prepared to go cashless.<\/span><\/p>\n

As for me, I\u2019ll try to help my clients get up to speed, even as I write their checks. <\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

As part of my job assisting older people to live independently, I pay their bills by check, as requested. But I\u2019m in my 60s and I rarely write a check for my own bills. I pay them online either at…<\/span><\/p>\n

Read more Cashless?<\/span> ›<\/span><\/a><\/div>\n

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