I miss the “pay with cash” option.

As an avid supporter of digital transactions, like Apple Pay, CashApp, Venmo, PayPal, the “tap to pay” feature or digital wallets, missing cash was a surprise.

While its efficiency and quickness are great, we are seeing the evident effects of using digital ways to pay as we become a cashless society. 

I stopped carrying cash when Arkansas State University announced Jan. 7 2022 that it would no longer accept cash at the Acansa Diner Hall and retail outlets, only accepting Flex or cards effective immediately Jan 11. 

This move towards cashless payment options isn’t unique to A-State; it’s happening everywhere. Many more businesses are moving to mobile payment methods, and as much as I appreciate the ease of use, I miss dollar bills. 

A cashless society is a simple concept; essentially, it’s a society in which money is transferred from physical means of payment, like cash or coins, to digital means. 

We are seeing a lot more people pay electronically. A Federal Reserve Bank of San Francisco report found payments made using cash in 2022 were about 18%, while Forbes found in 2023 that 53% of people use digital wallets to pay for “traditional payment methods.” 

Gen Z leads the trend, with over 60% paying with digital wallets, which is not surprising since we were raised in the digital age. It would make sense for us to follow a near-cashless society. 

There are many benefits to paying in this digital currency, like convenience and quick transaction completion. There are also better security (eliminating money theft and helping with insurance cost reduction) and environmental benefits (lowering carbon footprint). Studies have shown that it reduces crimes since it becomes harder to steal and there are fewer examples of money laundering. 

But there was something so simple about cash. I was more responsible with my spending, more charitable with tipping and never so anxious about misplacing my phone. 

I miss paying with cash, especially whenever I’m on campus. As a journalism student, I practically live in the Education/Communication building, where the vending machines don’t even accept Flex, only cards and cash. Besides the small exception of the vending machines, there is no reason to pay with cash, so I’m stuck paying electronically because I don’t carry cash. 

It’s a loop I can’t escape.

We should have a cash option again here at A-State. Even if most students have Flex or are fine with paying digitally, it would help the other people who are feeling the same way I do. 

Bringing back cash would offer more discount opportunities, as any transaction fees within third parties are eliminated, chances of fraud or reversed bank transactions are reduced and tracking your funds becomes easier. 

Whether it’s to help with budgeting or just to help people avoid spending a lot of money daily from their bank account when buying food, bringing back cash payments would make a big difference for students at A-State and society as a whole. 

Categories: Opinion

Tags: Opinion