OPINION: Is cash still king in 2023? - Kilkenny Live

Is cash still king in 2023? It’s not long since making sure you had access to notes and coins was crucial when venturing out into the world.

Many businesses simply did not have access to card-reading technology, while the idea of paying using a phone was unheard of.

The transition to ‘quick and easy’ electronic payments becoming de rigeur was accelerated by the pandemic, particularly in the early stages when people wanted as little contact with others as possible, in the event of only the most necessary financial transactions.

On a recent visit to the local cinema, it was my job to get the tickets. I had left my wallet at home and instead simply brought cash in my pocket; without getting into amounts, it was more than enough to cover the admission and a bucket of popcorn to compliment a selection of concealed snacks.

Approaching the till, I spotted a sign warning that cash payments were ‘not permitted due to Covid-19’. Payments must be made by Visa/Mastercard only.

Figuring it to be a leftover from the previous two years of lockdowns — like the 2m stickers still dotted around — I looked for two tickets and got the cash ready.

But, as it turned out I could neither pay for a ticket nor any snacks at all using my lovely crisp euro bank notes.

So, I was left standing there to one side as everyone who had been queuing behind me shuffled past, to pay using their iPhones and everything else, staring in pity at this hapless, decrepit Luddite. Methuselah watching on with his useless, backward cash.

Time was up and the opening credits had started to roll in the screenroom. Thankfully, my plus-one arrived just in time to bail me out and we managed to catch the movie with only a minute missed (it wasn’t much good, in any case).

I’m not qualified to say whether or not the exchange of physical cash played a big role in the spread of the virus.

I suspect that handling credit cards and phones or payment terminals may be equally plausible vectors, but I am no virologist. But banning it as a Covid-mitigation measure, at this stage, is possibly open for debate.

I appreciate I am sounding a little curmudgeonly here.

Some local businesses have gone the other way, and are clear that they prefer cash payments. It may be easier, for example, in industries where tipping is customary.

Of course, many places will now solicit a gratuity or service charge at point-of-sale regardless.

I’m not against using cards or tap-and-go per se. I don’t think there is a vast global conspiracy to wean people off cash in order to control them and invade every aspect of their lives and monitor and control how, when and where they spend their hard-earned money.

I understand some people don’t like to carry large amounts of cash on their person, perhaps for safety reasons or the exchange rate when travelling.

I get that people like the convenience of cards and tapping things, contactless or phone apps that you just hold near the machine. I use the tap on the card myself sometimes.

Typically, for things that are between €5 and €50 (I don’t want to look at a bank statement with an array of €1 and €2 purchases running down it).

Maybe businesses are not bothered when people opt to go through the chip-and-pin/ would-you-like-cashback routine for small items like a bottle of water or bar of chocolate.

My point is, people have different needs and preferences, and like to have options.

Already, internet banking can be a frustrating and intimidating experience for some. Increased measures to prevent fraud, theft and cybercrime — while necessary — can make it feel like navigating an obstacle course at times.

Want to check your account? Put in your eight digit registration number, followed by your five-digit personal access code. Then, enter the code texted to your phone.

Want to pay for something on a third-party website? You need your card number, expiry and last three digits, but you also need to verify with a special bank password.

Then, another six-digit code is texted to your phone which must be also entered within a short few minutes. If you miss this window, the transaction fails halfway through and it is back to square one.

Some people will always prefer cash — we’ve been using coins as currency for thousands of years.

Why make their lives more difficult? Is there a stigma attached to paying in cash here because of the history of brown envelopes, land deals and politicians with no personal bank accounts?

Surely it’s not too hard to leave one lane open for the few of us left still happy to handle cash, dinosaurs though we may be.