Cash and banknotes carrying corona virus?

anhthu

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"Governments worldwide are quarantining banknotes, as the coronavirus pandemic puts the spotlight on the germ-spreading properties of ‘real’ money. The US, South Korea and China have all been taking action amid concerns that the disease could be spread by paper money and coins. " - Dinar Recaps

So that puts an end to the proliferation of cash in our generation? Will every country will become cashless? And how the bank systems and financial market deal with this situation?
 
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ShadowHokage

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No. It's impossible to remain without cash. I think is a god part in this because the banknotes has many germs anyway. Payment by card is the safest.
 

idk

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The shift towards digital payments has been going on for a long time so if more and more countries become cashless, I think that's a good thing. I think cash is a thing of the past, and in my country, most stores don't even accept cash due to e.g. the risk of getting robbed.

No. It's impossible to remain without cash. I think is a god part in this because the banknotes has many germs anyway. Payment by card is the safest.
I guess it's different for all countries, but why do you think it's impossible to remain without cash?
 

jyy

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People are becoming way over-sensitive about Covid-19. I mean, get real! Why should we consider ways to deal with dirty money, no pun intended lol, when we should just wash our hands, honestly?

Governments worldwide are quarantining banknotes, as the coronavirus pandemic puts the spotlight on the germ-spreading properties of ‘real’ money. The US, South Korea and China have all been taking action amid concerns that the disease could be spread by paper money and coins. So that puts an end to the proliferation of cash in our generation? Will every country will become cashless? And how the bank systems and financial market deal with this situation?

Yeah, this plays into "cashless conspiracy theories". Well, even the Bible predicts this stuff.
 
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Eline

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I know a lot of places where the people who are making use of the banknotes and the cash are ending up getting infected. So yes, that seems to be one issue that has been bugging many people. I am sure in near future the corona virus can be fought off like this if we pay more through online means. I know it is not easy but should be eventually accepted.
 

Lord Saru

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It is actually true that banks are also disinfecting notes to prevent the pandemic.

I am from India and as an Indian I belive that the transition from a physical money based economy to digital payment based e ecosystem is possible.

But there are certain pre-requisites like a strong telecom infrastructure, digital literacy, good point of sales machines and financial inclusion of everyone.

Those who had invested in social infrastructure previously, can easily move forward.
 

Alexander

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An increasing number of people are using digital payment methods when purchasing goods & services.

The government can’t track & prevent illegal transactions when someone pays by Cash. Some people argue that their privacy is at risk, if the economy went all digital. However, if you don’t have anything to hide, then there’s no need to worry.

Cashless transacting can definitely help reduce the transmission of a virus during a pandemic.
 

_B_

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I have noticed many using contactless or card for payments instead now at restaurants and bars which also use app systems for ordering too which works alongside the table service restrictions that have come into place. It's definitely much safer as I have heard stories regarding banknotes and coronavirus.
 

Claraviolet

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Cashless transactions are great, in this time and age.
People can't really sanitize a banknote completely without a spray and that's relatively expensive than sanitizer gel. This is just my personal opinion and in my country we have many reliable mode of money transfer options. Like GooglePay,PhonePe, PayTM and many more.

They have cashback offers too and not to mention that they have a two-tier authentication system and all. It's better to switch to cashless transactions for the time being. I hope everyone would cooperate with this :D
 

Joshua Farrell

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It is one of those things that I am iffy over. If I have physical cash, I will more than likely use it. Then again, using my bank card or a check, can be easier, if I have to not worry about figuring out how to split payments between cash or card.

I think that so long as the government doesn't require further tracking of the cards, then I wouldn't have an issue if I have to permanently switch.
 

yann4h

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HAHAHA it's funny because i lived in Venezuela and here what is supposed to be our main currency does not exist almost, now everything is dollars or transfers here all very curious and complicated, so if I do not even understand how the bills work here I could not know about another country, although I can tell you that Airtm and many virtual wallets is how this complicated economy moves. For example, my income is through PTC pages and they pay me virtually that if it is a constant reality in this part of the world. Economy in games is so amazing too, that world you can gain so much money from those place.
 

Alexander

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On paper, the coronaviruses can live up to 3 days and be contagious

Consumers see an increasing number of businesses accepting digital payment methods only, like a credit/debit card or a contactless gadget. Do you think society is moving towards an all-digital currency? If so, when do you believe cash will be abolished?
 

Crazyjesus

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The slow but steady phase out of physical money was already a trend before the pandemic. In fact, several countries had already scrapped this type of issuance, requiring the use of electronic money. Add to it the growing presence of cryptocurrencies and the appearance of electronic versions of national currencies and let's sing a RIP to physical money in the short term (possibly in this decade).
 

Joshua Farrell

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I doubt cash would stop flowing in physical form, as most people still need to pay for stuff in person, if a business cannot take a card for various reasons (think of carnivals and street vendors, who don't have access and money to be able to process card payments).
 

Vladv26

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It's extremely hard to quarantine banknotes since there are literally billions of them out there. There are also tons of places in the world where people don't use debit /credit cards so how are these people supposed to buy the necessities if they can't use their banknotes
 

Ella12

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Several nations consider quarantining their cash and banknotes as they have been discovered to be carriers of the coronavirus responsible for COVID–19. Countries like the U.S, China, and Korea have been considering several measures to curb this, with online transactions posed as the likely alternative. This further strengthens the influence of the online business, especially in recent times.
 

Ghost Warrior

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I don't know what to say, I prefer to use the cash method, than with his card online, I know that they can be contaminated, however a banknote goes through several wallets every day ...
 
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