In developed Western countries, although mobile payments are not as widespread as in China, people prefer to pay with cash or credit cards. This is mainly due to the importance that people attach to their right to privacy. In contrast, mobile payment may reveal personal consumption, such as the number of purchases in the supermarket per month, the frequency of ordering takeout, etc., so that the privacy of consumers will be affected. Paying in cash can protect your privacy by avoiding letting the outside world know about your spending. This also means that if an individual wishes to buy what they need but does not want others to know about it, they can choose to pay in cash.
The use of cash can further protect personal privacy. For privacy-conscious people, mobile payments are too convenient because all spending records are kept by the payment platform. Cash payment, on the other hand, allows consumers to enjoy a private consumption experience without worrying about the leakage of their consumption records. In addition, cash payments can also prevent the risk of personal privacy being hacked and payment data being illegally obtained. By using cash, people can better protect their financial privacy and avoid personal information leakage.
Nowadays, there are many situations where mobile payments are restricted, such as no signal in remote areas, mobile phone malfunctioning, arrears, or low battery. In this case, if you carry cash on you, you can solve the urgent need. Especially in some unexpected situations, such as power supply and network interruptions caused by natural disasters, holding some cash at this time can allow people to buy daily necessities and solve urgent needs. Therefore, keeping some cash in your daily life is essential for dealing with emergencies.
In addition to addressing urgent needs, cash payments offer greater flexibility. Some merchants may only accept cash payments, especially in remote areas or in some small shops. If you only rely on mobile payments, you may not be able to purchase the goods you need or enjoy certain services. Carrying cash, on the other hand, makes it easier to shop and pay when you encounter restrictions without being constrained.
More and more young people are choosing to use cash to spend, mainly because they find it difficult to control their spending after transferring their wages directly to mobile payments. As a result, he quickly spent all his money and even had to borrow money to make ends meet. In contrast, using cash payments allows for better control over consumer spending. When it is necessary to spend, only the necessary amount needs to be withdrawn, so that when spending large amounts, there will be a kind of thrift mentality. If you find that your consumption spending in the first few days is too large, you will be more frugal in the following days. In this way, young people can better control their consumption needs and make ends meet.
The use of cash is also a reminder that how much money is real, not just numbers. When people pay with their phones, it's easy to lose sight of the actual amount spent because everything is done through the app. With cash payment, you can directly feel the reduction of funds every time you consume, so it is easier to cherish the value of money and the awareness of rational consumption. Especially for those who are prone to impulsive spending, using cash to pay can be more effective in helping them restrain their desire to buy and achieve their financial goals.
In some cases, the use of cash payments can bring people greater happiness. For example, when you attend a relative's wedding and need to give a gift of 5,000 yuan, paying by mobile phone transfer may not impress the couple. However, if you come up with a thick stack of cash to pay, it will give the impression that you value them very much. Similarly, for the red envelopes of the elderly and children, if they pay directly by transfer, it may not really arouse their happiness, and they will feel that they will get the money and will not pay too much attention to the money. However, if you pay in cash, the elderly and children will feel happier. This is because cash matches the form of a red envelope, and the meaning of giving is clearer, which can enhance the importance of the gift and the blessing behind the gift.
In addition, the use of cash to pay can create a more authentic shopping experience. By handing over cash and receiving it in person, people are able to feel the authenticity of the transaction, which leads to a deeper sense of satisfaction and happiness. In contrast, virtual payment is only completed through a few clicks, and it is difficult to bring real enjoyment without the touch of physical cash. Therefore, in some cases, the use of cash payment can bring people a more authentic and pleasant consumption experience.
Although mobile payments have become increasingly popular in China, there are still certain advantages to using cash to pay in comparison. People use cash to pay for privacy, address urgent needs, control spending, and improve well-being. However, at the same time, it should be noted that when using cash to pay, it is necessary to reasonably manage and keep the cash safely to prevent the occurrence of financial security problems. In general, cash payment and mobile payment have their own advantages and disadvantages, and people can choose the right payment method according to different situations and needs.