From mobile money to online banking and QR-code payments, the world is rapidly moving toward a cashless society. In Rwanda, digital payments have become part of daily life, whether it’s paying for transport, groceries, school fees, or even giving offerings at church.
For many, this shift represents progress and convenience. For others, it raises serious concerns about control, exclusion, and security. So, is going cashless a blessing or a hidden risk?
The Good Side: Convenience, Speed, and Transparency
Supporters of a cashless society argue that digital payments make life easier and more efficient. With a mobile phone, people can send and receive money instantly, without standing in long queues at banks or worrying about carrying cash. For young people especially, digital finance fits perfectly with their fast-paced, tech-driven lifestyle.
Cashless systems also promote financial inclusion. Many people who previously had no access to formal banking can now save, pay, and transact through mobile platforms. For small businesses, accepting digital payments reduces the risk of theft and improves record-keeping, making it easier to track sales and plan growth.
Another major advantage is transparency. Governments and institutions argue that cashless transactions help reduce corruption, tax evasion, and illegal activities. Every transaction leaves a digital trail, which can strengthen accountability and improve public service delivery.
The Bad Side: Exclusion, Surveillance, and Overdependence on Technology
Despite its benefits, a fully cashless society risks leaving many people behind. Older generations, rural populations, and those with limited digital literacy may struggle to adapt. For some adults aged 45–60, handling physical cash feels safer and more understandable than navigating mobile apps and PIN codes. If cash disappears completely, these groups could become financially excluded.
There are also growing concerns about privacy. In a cashless system, every purchase, what you buy, where, and when, is recorded. This raises fears of surveillance and misuse of personal data by companies or governments. Critics argue that cash provides a level of freedom and anonymity that digital payments cannot.
System failures are another risk. Network outages, phone malfunctions, or cyberattacks can instantly paralyze daily transactions. When technology fails, people may find themselves unable to buy food, pay transport, or access their own money.
The Youth Perspective vs. The Older Generation
Young people often see cashless systems as the future, modern, smart, and efficient. For them, losing a phone feels less likely than losing cash, and digital wallets feel natural.
Older generations, however, tend to value control and tangibility. Holding physical money provides reassurance. For them, cash is not just a payment method, it’s trust.
This generational divide fuels ongoing debate in homes, workplaces, and public spaces.
Finding a Middle Ground
Rather than rushing into a completely cashless society, many experts suggest a balanced approach. Digital payments should expand, but cash should remain an option. Education, strong cybersecurity, and clear data-protection laws are essential to ensure trust across all age groups.
So where do you stand?
Is a cashless society the smart future we should fully embrace, or a risky shift that moves too fast and leaves others behind? Should convenience outweigh privacy, or should cash remain a safety net we refuse to let go? As technology keeps changing how we live and spend, the debate is no longer about tomorrow, it’s about choices we are making today. What’s your take?
Brenna AKARABO
RADIOTV10
