Why cash should remain a payment option

FROM streetside coffee shops to large shopping malls, QR code payments and e-wallets have made payments faster, more convenient and highly efficient.

While the younger generations complete their payments with a flick of their finger at convenience stores, elderly street vendors are losing orders because they don’t know how to use QR codes.

Have we forgotten to ask who is being left behind? This is not the fault of technology. Rather, a “cashless-only” mentality may lead to structural neglect.

The success of economic development cannot be measured solely by technological

advancement, inadvertently excluding the elderly, vulnerable groups and rural folks.

For example, many elderly people are unfamiliar with online banking and e-wallets. They are also worried about online scams, making them hesitant to adopt electronic payments.

Meanwhile, most parking facilities have adopted cashless and ticketless systems that require payment through an app. For elderly people who don’t know how to use smartphones, even a simple outing can become difficult.

Furthermore, people who live in rural areas still face unstable Internet coverage while some low-income families may not be able to afford smartphones or reliable mobile data.

Once the country fully adopts cashless payments, these groups will be completely excluded from daily economic activities, making them face greater barriers in everyday economic activities.

The government must prioritise financial inclusion while promoting a cashless economy. True progress is not about eliminating old tools but about providing choices.

While continuing to consolidate cashless payments, the government should strengthen digital skills training for the elderly and rural people, continuously improve the national network infrastructure, and develop easy-to-use payment interfaces and offline payment options for the elderly.

During the transition period, cash should remain a payment option so that those who cannot immediately adapt to digital payments are not excluded.

Going cashless is not the problem; leaving people behind is.

A truly modern economy is not defined by how quickly cash disappears but by whether every citizen has an equal opportunity to participate in its future.

CHIN ROU YEE

Bayan Lepas, Penang