Cash is progressively disappearing, in particular as PayPay has gotten foothold.
The main gaps that were filled:
- interpersonal payment is now easy. 10 people eat together, splitting the bill is now sharing a QR code and 30s of operation for each, no exchange of contact, nothing finicky, and it can also be done later (no tap needed)
- phone networks are fast enough to make the transactions near instaneous. We're talking 3s at most in a sheet mobile environment. 1s with a wired POS.
- phone are secure enough, being already the central part of our electronic life.
All in all, cash will always be used somewhere, but even grandma's vegetable stands are starting to accept QR codes.
The main gaps that were filled:
- interpersonal payment is now easy. 10 people eat together, splitting the bill is now sharing a QR code and 30s of operation for each, no exchange of contact, nothing finicky, and it can also be done later (no tap needed)
- phone networks are fast enough to make the transactions near instaneous. We're talking 3s at most in a sheet mobile environment. 1s with a wired POS.
- phone are secure enough, being already the central part of our electronic life.
All in all, cash will always be used somewhere, but even grandma's vegetable stands are starting to accept QR codes.