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— The cash is in a war it will probably lose. From the consumer’s perspective, it is easier and faster to complete a transaction using a platform or application. The more conveniences there are, the sooner consumers will move away from traditional cash – says Marcin Kościński, director of ING Bank Śląski. He is one of the participants of the “Finance of the Future” panel during the ongoing 16th European Economic Congress in Katowice.
In his opinion, Poles are prepared for this trend, and the same is true in business and at ING cash payments from companies have been virtually eliminated.
— Cash will certainly disappear, but this is not due to aversion to paper, but to the development of e-commerce. This has become a natural consequence of changes in sales and trade and the resulting development of payment services, says Dariusz Mazurkiewicz, president of PSS (BLIK operator).
According to him, this trend will not be changed even by the conservative attitude of central banks, which try to keep real money on the market. The question is whether both sides are ready for talks.
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Not everyone is of the same opinion. — Cash will not disappear because we have such mundane payments as, for example, paying for a football pitch. However, the trend of increasing electronic payments is obvious, said Wojciech Murawski, member of the Autopay management board.
He also noted that each country is diverse. There are regions where the popularity of digital money is low and consumers do not use applications or payment platforms.
— Let us also remember that new ideas and applications are created, but they are not always well secured. This poses a potential threat to our money, so Cash sometimes seems safer – noted Wojciech Murawski.
In turn, the president of the Polska Bezgotówkowa Foundation, Joanna Erdman, believes that Cash is a social contract, so if we agree that it is not needed, it will disappear. However, this applies to the distant future, when the market will be fully taken over by the young generation.
— With the development of AI, we will see a dynamic development of financial services, which can be easily operated from the phone. This will, for example, reduce the need for branches or call centers, and therefore will provide opportunities to find significant savings – said Szymon Wałach, vice-president of InPost.
In his opinion, whoever first understands and implements it will be the big winner on the financial services market.
