Digital and contactless payments are accelerating during the pandemic which leaves cash in a precarious position; cash is still being used by older customers who are not digitally savvy and by those in illegal occupations; there is another group who might prefer to use cash in order to not have their transaction history tracked by banks, big tech or fintech; with the talk of governments becoming more involved in digital currencies there will be a growing group who want to use cash in order to not be tracked by the government; consumer behavior is definitely changing and the current crisis has helped to speed up the adoption of contactless payments; cash is not dead yet, and will still be needed for the foreseeable future. Financial Times.
