Who Wins in a Cashless Economy?
Are we wise to get rid of our notes and coins? Linda Yueh reports.
The death of cash has been predicted many times over the years. But in the last decade a future without coins and notes has become a real possibility thanks to the global development and adoption of cashless systems. Some banks in Scandinavia are already refusing to accept or hand out cash. And, in nations with poor banking infrastructure, the growth of cashless has been explosive. Millions of people around the world now conduct their lives with hardly any cash at all and in terms of convenience, most of us are winners. But warnings are sounding about the driving forces behind this shift. Are we in danger of getting rid of our cash without really understanding the consequences? Presented by Linda Yueh.
(Photo: View of a smartphone displaying the 'Contactless' application. Credit: Getty Images)