Cybersecurity
Why Bitcoins and Apple Pay Can't Kill Off Cash
This article is for subscribers only.
Cash is dirty and flimsy. It comes with no official rebate or reward programs. Worst of all, you can’t stuff it into a smartphone or laptop to pay for something online.
Yet there are no real substitutes for cold hard cash. Despite predictions of a cashless society, the Bureau of Engraving and Printing and the U.S. Mint churn out more currency and coins every year. The average American still uses cash for dozens of transaction each month, despite the wealth of alternatives, from good old plastic to virtual currencies to “point and pay” apps like the upcoming Apple Pay service.