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Cash has been used in the USA since the Coinage Act of 1792, and the US dollar was conceived seven years earlier in 1785. In the hundreds of years since then, paper and coins have become the staple way to perform transactions not only here, but around the world as well.

Now, though, it appears as if times could be changing. While cash has served us well to this point, it’s not without its downsides. And thanks to technology, there are more efficient ways of payment emerging. It may not be too long before the USA goes completely cashless.

Online Industries Have Helped Newfangled Payment Methods Rise in Notoriety

Before the internet became the most important piece of technology the world has ever seen, there was no need for payment methods other than cash. You can’t shove coins into your computer to buy things on Amazon, though, and users quickly grew accustomed to using cards more frequently.

Many astute business people saw a prime opportunity at this point, with a wide number of internet users feeling unsure about keying in debit or credit card details online. This led to the emergence of payment systems and gateways like PayPal, Neteller, and Google Pay.

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Competitive online industries have helped people become more comfortable with these payment methods. The entertainment industry has been a driving force behind Google Pay and others, as players flock to platforms where well-known brands are available. Seeing these names can help players feel peace of mind that a site is trustworthy. For example, some players search for online casinos that accept Google Pay, knowing that they must be reputable sites if they do so. Aside from the payment methods on offer, these platforms are categorized based on their ratings and promotions.

The USA Saw a 50 Percent Drop in Cash Use Between 2010 and 2020

There are some interesting statistics surrounding the use of cash in the USA. Research has shown that there was a 50 percent drop in cash use between 2010 and 2020, highlighting how more people are transitioning to modern payment methods. This switch to cashless systems is expected to gather even more pace between now and 2030.

Aside from the well-known and popular fintech options like Google Pay and Apple Pay, several businesses are implementing their own payment systems to make life easier for customers. Some of the top brands that have done this so far include Starbucks and Facebook.

There has also been a rise in cryptocurrencies, which are offering another option for people who want to avoid traditional banking systems. Over 75 million people around the world now own a Bitcoin wallet, and the digital currency has boomed in value over the last decade. If it carries on this trajectory over the next ten years, it could become a global payment solution.

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Thanks to the internet and modern payment methods, cash has suddenly begun to look outdated. It’s unhygienic, inconvenient, and can be lost or stolen. It would be wise to assume that most of America will be cashless before 2030 and, eventually, cash will become obsolete.