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Thursday, April 26, 2012

The Next New Thing

Technology is making a progress every day and to come up with a new media thing it's kind of like playing a scientist :) Improvements are necessary and without them, the world would stand in one place, so thanks to the creative people the world is changing into a better place. I have several idea for new media invention. One of them is eliminating cash. I think we are getting in the era where we already barely see cash. Electronic transfers, money wires, credit cards and checks make up for using cash these days. We see numbers on out bank account statement, but admiteddly how many of us carry cash? When I go out with my friends, they always use credits cards, to pay for dinner, a cab ride, drinks at a bar, grocery shopping etc. Another idea is to advnace banks technology so customer's wouldnt have to go to the bank to deposit checks or money orders. I know some banks are already implementing this new idea, but still not all of them. My company has several bank accounts and every other day the emplyees have to deposit plenty of checks and walk to many different banks, which is very inconvenient. If all the banks had internet based checks deposits, that problem would be solved, and the employees would have more time to work on more important tasks.

8 comments:

  1. Eliminating cash sounds more realistic everyday! I work at a bank, and even though it sounds weird, most of the transactions I do involve checks! People, including myself rarely use cash, we have online bill pay where we can pay bills online and we have debit cards to make store purchases, i def agree there is no need for cash anymore!

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  2. It would be great if we could eliminate the need to carry cash to pay for everything. Too many places still do not accept credit cards or set a minimum amount you have to spend in order to pay by credit card. Also, it would be great if more banks would institute a way to make check deposits without having to visit a bank branch. I know that Chase has a smartphone app where you can do that, but more banks should embrace this method of doing check deposits.

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  3. i am definitely one of those people who never carry cash so i guess thats a huge reason why i like this idea so much haha cash is a thing of the past!

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  4. I'm glad yu guys agree with me! Maybe now we could write a petition together and eliminate cash from our wallets! ;)

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  5. I think this is a great idea since we can see that many people don't walk the streets with cash anymore. I don't use checks as much any more but with this I would be inclined to use checks more.

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  6. I think you're right about cash being a thing of the past. I rarely have cash on me, I always use my debit card. Also, my bank does not even require me to go inside the bank branch anymore.. I can cash my checks through my iPhone!

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  7. That's an interesting point, literally the only reason I carry cash is for $1 pizza. The real issue with debit/credit only is the fees associated with accepting them. Granted they're small, but in the scheme of things they can dent profits when a free alternative (cash) exists. Similarly, the feeling of cash exchange is a sentimental thing for a lot of folks. It's often easy to become reckless with debit cards because nothing physical is given up in exchange. Should be interesting to see what happens though.

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  8. I think this is a great idea because I don't usually carry much cash with me. I usually pay with my debit card now since it is less of a hassle of taking out cash from my wallet.

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