To defend their branches from physical bank robberies, banks hire massive security teams. In a cashless future, wasting time and energy moving money around and protecting big sums of cash may become obsolete.
People may need to exchange their dollars for local currencies while traveling. If people are traveling in a country that supports cashless transactions, though, they will not have to worry about how much local currency they will need.
Instead, their mobile device takes care of everything. Going cashless, on the other hand, may be more difficult than useful.
First of all, electronic payments do not have the same level of privacy as cash payments. Hackers are the electronic equivalents of bank robbers and muggers.
People are more vulnerable to hackers in a cashless culture. If people are targeted and their accounts are emptied, they may be left with no other options for spending money.