The no cash revolution is here to stay and it’s roaring faster than ever. With the success of Venmo in the peer-to-peer lending (that means between friends), many bigger banks are scrambling to get in the action.
Launching later this year, Zelle, powered by some of the biggest banks hopes to complete as best as they can with Venmo in this digital wallet space. I’m super interested to see how Zelle functions and how it will compete since I have a bank account with one of these bigger banks.
It all brings up an interesting question, though, “Do we still need cash?” I can’t tell you how many times I’ve needed to have at least some cash on me and I just don’t. Those awkward moments when I’m leaving a parking garage and having to rummage through my entire car just to find enough money.
If the no cash revolution is here to stay we need to make sure we are being very careful with how we use our digital wallets.
On This Podcast Episode:
- Why Venmo is taking over peer-to-peer lending
- Is Zelle going to help customers from bigger banks, or be an epic fail
- Is going cashless a good thing
- What security measures you need to take to safe
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Shannah Compton Game is a Money Wellness expert, host of the to-rated Millennial Money podcast, and CERTIFIED FINANCIAL PLANNER with an MBA. Millennial Money has over 15 million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.