How we may see a cashless society

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As our mobile phones become integral tools in our everyday lives, research from an online cartridge company suggests that not everybody is comfortable with moving their whole lives onto their phones just yet. Online cartridge company Cartridge Save has surveyed people living in the UK to find out how adaptable they are to technology advancements. They found that many are happy to switch to using their devices for travel and e-tickets, however using digital wallets on their phones is still not something they are comfortable with.

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81% of people in the UK are making the switch from paper to e-tickets

“I do like the ease, of not having to print tickets or queue at ticket machines.”

“I find it easier to have tickets for travel on my phone, one less thing to look for in a bag.”

A few respondents (2%) were left undecided, with a couple of concerns around reliability and battery charge of mobile devices:

It depends on mobile device reliability and scanable apps. Also, if wanted, tickets as souvenir.”

“It really depends. Paper doesn’t lose charge, although it would be one less thing to worry about if you have your phone with you.”

 “I would prefer it on paper in case my phone battery runs out and I’m unable to travel.”

Only 30% of Brits have used Digital Wallets

  • Security was an issue when it came to using digital wallets for 31%
  • 19% of people were worried about fraud

More people; 65% prefer tap-and-go services for small amounts instead of cash

  • 14% are concerned about how much could be spent if a card is stolen
  • 3% worry about losing their cards

You can read more details from the study here.

Apple have been promoting a cashless society in Japan, pioneers of the digital wallet on their devices, Apple CEO Tim Cook said the company intends to use its products – Apple Pay, iPhone, and Apple Watch – to become “a catalyst for taking cash out of the system. We don’t think the consumer particularly likes cash. Their target market for getting rid of cash is Japan, using FeliCa payment standard which is the most popular payment system in Japan.

For an experiment of this size, Japan is probably a good choice, the country is already forward thinking when it comes to technology, it’s not a large country and residents are quick to adapt and take up new technologies as well as developing them.

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