Going cashless limits choices for the poor

As businesses move towards cashless systems and digital payment platforms dominate the market, a growing portion of the population is being quietly pushed to the margins. While the shift to digital payments is often celebrated as "modernisation," its unintended economic consequences, especially for low-income communities, are rarely discussed.

Not everyone has access to bank accounts, mobile wallets or reliable internet. In many areas, especially among the elderly, daily wage earners and rural workers, cash remains the only reliable method of transaction. Yet, more and more shops, transport services and even hospitals are going fully digital, refusing cash outright. This leaves many people unable to participate in the economic activities.

Beyond exclusion, digital payments often come with hidden costs: transaction fees, minimum balance charges and data collection that feeds targeted marketing. For someone living paycheck to paycheck, these small fees and forced digital dependencies are real burdens. The shift also empowers tech companies and banks, giving them control over transaction data and spending patterns, while the individual loses both privacy and flexibility. This growing digital divide isn't just a technology gap, it's an economic one. Policymakers must ensure that digital progress does not come at the cost of access, affordability and autonomy. Cash must remain a valid option and financial tools should be inclusive, not predatory. True modernisation includes everyone, not just those with a smartphone.

Yana Islam Rifa

Bachelor of business Administration

North South University