The need for cash and its role in society

Georgiana Nita and Alexandru Badiu
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Georgiana Nita: Bucharest University of Economic Studies
Alexandru Badiu: Bucharest University of Economic Studies

Romanian Statistical Review Supplement, 2018, vol. 66, issue 1, 82-89

Abstract: Although we are supposed to live in the digital age, where increasingly focus is on „contactless” payments, online payments, the use of debit / credit cards and bitcoin, it seems cash preference is coming back. Cash is used in shops, supermarkets or restaurants; on the one hand, customers prefer to pay in cash because cash ensures the anonymity of transactions; on the other hand, restaurants and shops, by avoiding digital payments, can declare lower profits. Access to cash is important in financial inclusion because cash can be used by any person, regardless of ethnicity, culture, location or age. Cash also helps people in a household better allocate their resources and keep a clearer record of spending.

Keywords: cash; anonymity; safety; trust; digitization; financial inclusion (search for similar items in EconPapers)
JEL-codes: E44 G10 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:rsr:supplm:v:66:y:2018:i:1:p:82-89

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