Payne notes: “People who pay in cash never have to worry about a hacker stealing their data or identity.” His concerns are echoed by many Americans, according to Sarah Grotta, a director at the Mercator Advisory Group, who says: “We’ve found in some of our surveys that those who use cash are using it because they feel it’s more safe.”
Regarding inclusion, Payne highlights the 55 million Americans who lack a bank account and rely on cash to cover every need. These individuals are at risk of being excluded from society should cashless payments become the only option. Beyond this significant group, many more could find themselves unable to pay for necessities in an emergency due to the reliance of cashless payments on electricity and internet connectivity.
