New Front On White Privilege: Cashless Payment Systems
Axios morning email thingie tells us that we are turning into a cashless society:
We’ve suddenly cut back on using cash for fear it may spread the virus, and some worried shopkeepers have stopped accepting it, Axios managing editor Jennifer Kingson reports.
- Why it matters: The virus has changed our buying and payment habits forever. Online shopping is through the roof, and consumers are rushing to get “contactless” credit and debit cards, which are tapped at a merchant terminal rather than inserted or swiped.
The coronavirus has made us scared to touch anything, and there’s a perception that money is dirty and payment terminals carry germs.
- ATM use is down 32%, according to Visa, and 63% of consumers say they’re using less cash.
The next big thing: contactless cards. They’re pervasive in Europe and elsewhere, and are just starting to hit the U.S. in a big way.