Sure, the cash, as used in the popular statement – Cash is King – is contextually the liquidity in a business, and not the physicality of cash. But if we take it literally, Cash is no more the king. In short, Cash has left the palace. Coronavirus has kicked Cash out of the palace.
People are avoiding touching cash as it can be an agent for the spread of coronavirus. Digital payment has picked up. Some companies have banned payment via cash. If you pay with cash, it means you are breaking the WHO guidelines of being a few feet apart!
Can this new redesign survive the pandemic? I will vote YES but certainly not as the same pace of adoption as we have now. Do not bring cash here – use the plastic or USSD since the Central of Nigeria had already banned the use of cheque during this pandemic: clearing of cheques is suspended in Nigeria.
Stores are shuttering all over the United States, and many of those still open are balking at cash. Shoppers are switching orders to Amazon and Walmart.com. Many restaurants that have stayed open won’t take cash, and operate without any contact at all, requiring customers to pay first online.
What once seemed like the oldest, most reliable way of paying now seems fraught: A physical object changing hands, bringing people closer than 6 feet, covered in who knows what.