There are many benefits of using cash, including anonymity, stability, and acceptance almost anywhere. The truth is that nothing is as universal, foolproof, and anonymous as cash although most countries’ current regulations require various declarations for large purchases in cash. The use of cash, more than anything, comes down to cultural preferences. For example, in , cash is popular for a few reasons. First, its ageing population is not keen on making the jump to digital payment methods. Second, for Japanese culture, cash inspires both trust and convenience. Similarly, when it comes to trust, Germany is very conservative, thus very cash-heavy. And once individual preferences are embedded, it takes a long time to change them.
Also, cash can be used to perform economic actions such as buying, selling, or paying debt, as well as meeting immediate wants and needs. From natural disasters to economic downfalls, cash is the backup in emergencies. Cash is still the safety net when travelling internationally, as cards are still not accepted everywhere. And lastly, it makes consumers more aware of their spending habits and budgeting.