Could a cashless society help prevent germ spread?
When the COVID-19 pandemic first reached the United States earlier this year, the US Federal Reserve began quarantining dollars repatriated from Asia before recirculating them, as a precautionary measure against spreading the virus. The move underscored the fact that paper money is considered a fomite - an inanimate object that is likely to carry pathogens.
What kind of germs live on currency?
According to several studies over the years, the circulation of physical currency can contribute to the rapid spread of germs and disease in a globalized world. Anything from benign bacteria to dangerous superbugs could be catching a ride on currency. One study of dollar bills in New York City found a whole host of active microorganisms, the most common of which was propionibacterium acnes, the bacteria responsible for acne breakouts. The researchers analyzed a set of one dollar bills obtained from a Manhattan bank and found they were teeming with bacteria. And it’s not joins bills – coins can spread germs to anyone handling them as well. One study found that methicillin-resistant S. aureus (MRSA) - a superbug that has developed a resistance to penicillin - can survive easily on coins.
Germs live on currency for a long time.
How long germs live on the surfaces of cash and coins is specific to the pathogen. According to the Federal Reserve, the lifespan of various bills ranges four to 15 years, meaning your bills have a lot of time to accumulate germs. Some viruses can live for up to 72 hours, while other studies show that certain flu viruses that are particularly hardy can live on banknotes for up to 17 days! This puts cashiers who are handling money every day most at risk. One study found that physical currency changes hands at least 55 times a year, or almost once a week. But many people don't realize it or overlook the risk.
Preventing germ spread by going cashless
Now months into the pandemic, many small retailers and restaurants as well as large chain businesses throughout the world have gone cashless out of safety concerns, giving us a taste of what a truly cashless economy might feel like:
· U.S. Centers for Disease Control and Prevention (CDC) has recommended touch-free payment methods wherever possible, such as purchasing goods over the phone or online.
· As of June 2020, ATM use was down 32% (according to Visa) and 63% of consumers said they're using less cash.
· In places like South Korea, bank notes have been disinfected and placed in quarantine.
· The decline of cash has been particularly pronounced in the U.K., where an article in the Telegraph quoted a W.H.O. official advising people to wash their hands after touching currency.
Though it will be hard to tell if going cashless specifically contributed to flattening the curve of the COVID-19 infection rate, one thing is for sure – the pandemic will have long-lasting impacts on consumer purchasing experiences.
A cashless economy and the future
While the pandemic has drastically accelerated ecommerce adoption by many businesses and consumers, what is the future of in-person transactions at brick and mortar stores after the pandemic? Will more businesses go cashless? Are contactless checkouts and touchless pick-ups here to stay? Legally, a lot would have to change in order for many businesses to go cashless permanently. In fact, in many states it’s illegal to do so.
Cash-2-Card ReverseATM Technology is a solution for businesses that want to go cashless for reasons of safety and efficiency, and makes it possible to legally accommodate cash-paying customers. Customers just insert their currency into a Cash-2-Card self-service kiosk and receive a card in return that can be used at the store. In this way, the business’s employees are protected from ever having to handle cash, check-out lines move faster and social distance can be better maintained. The solution means that businesses fulfill their legal obligation and don’t have to turn away cash-paying customers, employees are safer and customers are happier.
Cash-2-Card can help make a future cashless society with less circulating germ-loaded currency possible. For now, continue to use caution if you’re handling cash, there is no perfect way to sanitize money, but you can protect yourself from germs by handling currency with gloves and frequent hand washing. With credit and debit cards, the CDC recommends using hand sanitizer immediately after swiping your card and using a public pin pad.
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