The Benefits of a Contactless Environment
Contactless technologies are not only changing the world, they are also having a positive impact on the environment. Just how big an impact? You’re likely to be surprised.
Let’s start with coins. In order to make coins, even the cheap zinc ones that replaced the copper ones requires mining for metals, smelting, and using a whole bunch of dangerous chemicals. Then take into consideration all of the pollution that goes into transporting the pennies once they are stamped… According to the American Council of Science and Health, mining and transporting coins has led to emissions of over 48,000 tons of carbon dioxide. You’re starting to get the picture….
What about digital coins or cryptocurrency? You might find this surprising but Bitcoin or Ethereum, are “mined”, meaning that new bitcoins are constantly being created by huge data processing centers that use a lot of electricity. One estimate puts the cost of producing one coin as equal to powering almost four U.S. homes for a day!!
When it comes to paper money, there are some changes that have been incorporated into new bills, but they aren’t necessarily making a positive impact. Paper currency in America uses a manufacturing process that is extremely water intensive because the stock must first be 99% water and 1% fibers. By the time the process is complete, the stock is 5% water. About one million gallons of water are used each day for this process. At the end of the day, sadly, a typical $5 bill lasts just 16 months before it’s taken out of circulation.
In many parts of the world, the latest type of “paper currency” uses a polymer that was thought to be more sustainable. Alas this is not the case. It turns out that although not felling trees to make the banknotes, it does take three times the amount of CO2 released into the atmosphere to produce them. Although there was great hope that these banknotes would last longer than the paper ones, it turns out that – that is not the case.
Refurbishing existing equipment not only saves money. Business owners who repair existing machines rather than purchase new ones can drastically reduce the amount of pollution their POS devices generate. It’s important to note that some manufacturers such as OTI have easily integrated retrofit solutions that can make existing machines and equipment cashless/contactless.
Contactless Payments are full of advantages for the environment. First of all, the importance of a cleaner, safer, more germ-free environment is crystal clear after a year of the Covid-19 pandemic. Add to that the simplicity of payment, saving time and paper. Add to that all the mining you need longer do, the trees you don’t need to cut down, the cash and coins that do not need to be transported hither and thither, all of which consume large amounts of electricity, water, and lead to the expenditure of oil, gas, electricity, etc.
There is no question that the future is all about cashless/contactless technologies. By being much more cost-effective, environmentally beneficial and user friendly, they are quickly becoming the standard around the world. So how do you cash in on the future without cash? It’s simple – use cashless solutions whenever you can. Forgo the paper receipts and stick to digital.
