The episode you’ve been waiting for is finally here. This is part 2 of the San Fran Fin Lit Pod Con cliffhanger episode from last season. Bridget and Ryan finally made it to the conference, only to find it’s entirely cashless. It’s the perfect opportunity to answer all your non-paper-money questions: What would happen if we lived in a cashless world and paid for everything with debit and credit cards? How do you send and receive money with mobile payment apps? And how exactly do checks work?
After listening to the episode, try out these related conversation starters with your kids:
What do you find is the easiest way to pay for things? Cash or non-cash options like a card, app or check?
How do you notice the adults around you paying for things?
Why might some people prefer cash?
Why do some stores prefer checks or cash instead of credit cards?
Do you think the world will ever become fully cashless? Why or why not?
Bonus Not-So-Random-Question: What sound do you think digital money would make if it made a sound?
For listeners who want to keep the learning going, start here:
If you missed Part 1 of Million Bazillion’s San Fran Fit Lin Pod Con cliffhanger episode from last season, catch up here.
Want to learn how credit cards work? This Million Bazillion episode if for you.
Going cashless could make people more vulnerable to digital scams! Learn how to spot and avoid them with this “Million Bazillion” episode on online scamming.
VIDEO: Check out this short video from PBS to learn how getting rid of cash might have a bigger impact on people than you think!
If you’ve had a Million Bazillion moment with your kids, where you realized they learned something new while listening to this podast, we’d love to hear from you. Send us a note using this online form. And, thanks!
Note: Marketplace podcasts are meant to be heard, with emphasis, tone and audio elements a transcript can’t capture. Scripts may contain errors. Please check the corresponding audio before quoting it
Cold Open:
VO: Previously, on part one of last season’s Million Bazillion San Fran Fin Lit Pod Con cliffhanger episode …
[SFX PLANE LANDING THUMP]
[RECAP MUSIC]
CAPTAIN: This your captain speaking. Good news. We’ve landed ahead of schedule. However, we’ll be taxiing on the runway for an hour before we reach the gate. It might be 2 or 3 hours
PASSENGERS: [GRUMBLES/SIGHS]
NICK STERLING: We’re racing against time to pull off the impossible …
[SFX - TICK … TICK … TICK COUNT DOWN CLOCK ]
NICK STERLING: I can’t be late to the conference. I’m Nick Sterling!
BRIDGET: What? The conference is going to start soon! If we miss the very beginning… we miss everything!!
RYAN: Uh oh! Are we ever going to get off this plane?
[SFX: QUICKLY ROLLING SUITCASE SFX]
[SFX: AIRPORT AMBI]
BRIDGET: [FURIOUSLY] It took five hours … FIVE! To get off the plane …
RYAN: My legs feel like pretzels, not those straight kind, the curly kind, to be clear. I think I forgot how to walk from all that sitting
NICK STERLING: This delay was not on the itinerary. Lucky for me, the U.S. Mint arranged a private car. And a little golf cart to take me to my private car. Sorry, there’s only room for me. See you at the conference?
(SFX: GOLF CART SPEEDS AWAY)
RYAN: Must be nice.
BRIDGET: It doesn’t matter. Pick up the pace, we need to get out of this airport and to the conference fast as we can.
RYAN: Shouldn't we grab a snack first? I don’t want to see hangry Bridget.
BRIDGET: We’ll eat when we get there!... And I’m NOT hangry! [GRUMBLING] Bet we already missed the welcome reception and all the swag bags with the tiny golden microphone pins and who KNOWS what other goodies are gonna be gone.
RYAN: Yeah, if I’m not gifted a new hydroflask every year, what else will I have to lose under my car seat!
BRIDGET: Ugh, why does everybody walk like they’re on vacation at the airport? Excuse us, sorry! Coming through!
TRAVELER 1: Watch out!
TRAVELER 2: Careful …
BRIDGET: Behind you! (TO CROWD) It’s ok to walk on the moving walkway, guys! It’s not a ride!
(SFX: DOGS BARKING)
BRIDGET: Those dogs should be in a carrier!
TRAVELER 3: Ouch. You just stepped on me
BRIDGET: And you- next time, wear closed-toe shoes at the airport! This is civilization!
RYAN: (APOLOGETICALLY) Sorry, excuse us, she’s hangry.
BRIDGET: (under theme music) I’m NOT hangry
-Theme Music -
RYAN: Hey everyone, Welcome to Million Bazillion. I’m Ryan.
BRIDGET: And I’m Bridget. And we help dollars make more sense. The episode you’ve all been waiting for is finally here … This is part 2 of the San Fran Fin Lit Pod con cliffhanger episode from last season …
RYAN: That’s right. So all of you leaving comments after season 9 episode 4 like … “where’s part 2? We need part 2. By the way, spot the difference” … This is it! This episode is for you.
BRIDGET: After a long day of travel and answering travel-related money questions - seriously, go back and listen to that episode again, we’ll put a link in the shownotes and tipsheet… we finally made it to the conference and we only missed the first few panels, PHEW! …For first timers, the San Fran Fin Lit Pod Con is kinda like Comic Con but for people who are just really excited to podcast about anything money-related.
RYAN: You mean there’s a huge auditorium where creators unveil big news in front of adoring fans?
BRIDGET: Yeah, but the famous people aren’t famous-famous, they’re fin-lit podcast famous! Oh look, it’s the host of Teller a Story, the number one podcast for funny bank teller jokes!
(DISPERSING LAUGHTER)
BANK TELLER HOST: So, I tell the customer, “Sir, we help dollars make more cents!”
(BIG CROWD LAUGHTER)
BRIDGET: Hey, that’s our catchphrase!
RYAN: This isn’t really much like Comic-Con. Is there at least an exhibit hall with booths and cool merch?
BRIDGET: Yeah but sadly not as many cosplayers! Oooo, there’s one Ben Bernanke. Oops … I just tripped over this ginormous red cord
(SFX Something big Powering Down)
RYAN: Are you okay?
BRIDGET: Yeah, just a small stumble … who put a cord here? … Anyway, hope it’s not important … alright, so first order of business?
RYAN: Get Bridget a snack! Food kiosk is …. [looking around] Look there’s one right there …
BRIDGET: OOF and there is a long line. Since we’re already behind schedule … let’s not waste any more time. We’re going to take a listener question while we wait.
EZRA: Hi, I’m Ezra, 14 years old. My question is what would happen if we lived in a cashless world where paper bills and coins were eliminated and we just paid for everything with credit/debit cards and mobile pay.
BRIDGET: Wow, when it comes to asking money questions, there’s no one better than Ezra. It’s an exciting time to be alive for fans of this so called “cash-lite” world we’re in today, where cash exists, but many people think it’s just easier to use things like credit and debt cards or mobile pay apps, But imagine if it ALL went cashless! Your weekly paycheck is directly deposited into your checking account, and then you use a debit or credit card to pay for everything. And cash as we know it disappears.
RYAN: Actually, I like to keep a reserve of cash in my wallet. You know … just in case I want to buy fruit from my local fruit vendor, buy a box of cookies from the Girl Scouts or feed a parking meter.
BRIDGET: Pretty sure most of them just take payment app.
RYAN: Yeah but then it becomes this whole production like “PLEASE STOP MAKING ME DOWNLOAD NEW APPS SO I CAN USE MY BUILDING’S WASHING MACHINE!” ya know? It just makes me feel safer to have a little cash on hand.
ANNOUNCEMENT LOUD SPEAKER: Welcome to the San Fran Fin Lit Pod Con. A quick reminder that this is a fully cashless event. Please use cards or mobile payment for all purchases. Thank you!
BRIDGET: Oh boy! Looks like we’re going to get a crash course on how a cashless world works and answer Ezra’s question at the same time. We’ve got the whole conference (er, episode) to figure this out.
RYAN: Fine. But I’m keeping a few bills handy. We’re up next … you know what you’re getting to eat?
BRIDGET: Just a protein bar, gotta be able to eat it on the way to our first panel. And oooh,this is a self-order and pay kiosk! Card or mobile pay only! Let me just tap my company card…
KIOSK: ERROR PAYMENT NOT VALID.
BRIDGET: Not working, no worries, I’ll insert….
KIOSK: ERROR, TRY AGAIN.
BRIDGET: Well it’s been a while since I’ve swiped, let’s see if I still got it…
KIOSK: STILL NO.
BRIDGET: What’s the problem here??
RYAN: Let me try … I usually have the magic tap.
KIOSK: ERROR YOU’RE TAPPING IT WRONG.
RYAN: I swear. This usually works ….
SFX HARDER REPEATED TAPS
SFX BZZRP/ ERROR
BRIDGET: You know what, it’s fine, let’s try Apple Pay … Google Pay … we’re hip and with the times… Oh no!
RYAN: Now what?
BRIDGET: my phone has 1% battery… I hope this goes through …(taps phone) … aaaaand it’s dead. Ryan how’s your phone?
RYAN: Mine has 2%... aaaand it’s also dead now. Sometimes it just goes from 2% to dead and I don’t know why. We should do an episode on that. Anyway, guess we’re taking a quick break while we figure out how to buy a snack in a cashless 2026!
-Asking random kids some NOT SO random questions-
ANNOUNCER: I’m Jeremiah from Utah here with today’s Asking Random Kids Not-So-Random Questions. Today’s question is: What sound do you think digital money would make if it made a sound?
KIDS: It would make a kinda zipping noise. If digital money could make a sound, I think it would make a cha-ching sound. “Cha-ging” The sound that digital money would make is it would say the number of bill it is. It would make the sound of soda fizzling… like a “ssssss.” I don’t think digital money would make any sound.
ANNOUNCER: That was Shiloh in Virginia, Liam in Maryland, Sadie in New Jersey, Noor and Sofia in Chicago, and John & Calder in North Carolina. This has been Asking Random Kids Not So Random Questions.
RYAN: And we’re back … from the San Fran Fin Lit Pod Con … Today we’re answering Ezra’s question about what would happen if we lived in a world without cold hard cash!
BRIDGET: Here’s the cool part … The timing for his question is perfect because as we just learned this year’s conference is entirely cashless!
RYAN: That means no dollars … no coins … no physical money of any kind. Just cards .. phones and apps. And that guy who keeps trying to convince people to get chips embedded in their hand.
BRIDGET: Yup. Our first attempt to demonstrate what would happen if we lived in a world without cash didn’t go GREAT but I’m sure that we’ll have a chance to really understand the true promise of a cashless world by the end of this episode–I mean, conference!
RYAN: So far we learned that in a cashless economy … you’ll probably need technology to work … because we’ve been trying to buy a snack but this self ordering kiosk isn’t taking our company credit card.
BRIDGET: And our phones are dead so our mobile wallets are useless.
RYAN: Mobile pay? More like No-bile pay. Get it? NO-bill? It works on two levels
BRIDGET: Okay so our first attempt at going cashless didn’t go so well but we’re going to keep trying so we can answer Ezra’s question …
RYAN: We’re learning as we go, people!
BRIDGET: Ryan … while we explore more of what this cashless conference has to offer … why don’t we take more listener questions along the way? if we want to make the most of what’s left of the conference …
RYAN: What about your snack?
BRIDGET: Don’t worry, I just discovered a vendor giving away free samples of “PennyPower” bars. Says on the wrapper that it’s some kind of penny-flavored protein bar? (TAKES A BITE)
RYAN: How’s it taste?
BRIDGET (MOUTH FULL) Like a penny! Which is disgusting! (SPITS OUT) Forget discontinuing pennies, they should discontinue that snack.
RYAN: Ok, Ezra, we’re still working on the answer to your question. In the meantime, Let’s see if we can get the answer to another question, here, live at the San Fran Fin Lit Pod Con!
HENRY: Hi my name is Henry, I’m 7. I live in Virginia. And my question is how do people send and receive money using Venmo?
RYAN: This is a great question … what inspired it?
HENRY: So a couple of days ago, my parents, me and my parents and my grandparents were going to a Christmas tree farm, and my mom forgot a checkbook, so then and they only took checkbooks or cash, but she didn't have any cash either. So my grandparents went and they brought their checkbook then my mom Venomed them back.
FRANKIE: Did I hear someone say they need a new checkbook?
BRIDGET: Ooh, you startled me. Didn’t see ya there. Uh, no we’re answering a question about payment apps like Venmo … the checkbook thing is like, an aside, not really part of the question…
FRANKIE: Okay well come find me if you want to know anything about checks. My booth is right over there in the corner …
BRIDGET: Sure. So where was I? Right - Henry’s question, that is a great example of a family working together to use use different forms of payment besides cash. Adults use money transfer apps like Venmo all the time. They’re a way to pay for something when YOU don’t have cash on hand and the person you’re giving money doesn’t take a credit or debit card.
SFX EXPLAINER MUSIC STARTS
BRIDGET: But let’s back up. Venmo is a money payment app, like Zelle, Cash App, Apple Cash, Pay Pal, Cash Pal–
RYAN: I don’t think that last one’s real.
BRIDGET: And they all allow you to send money you already have in your bank account to someone else without using cash. It happens electronically, using an app, no need to make a special trip to the bank or wait in line at an ATM. And often the money transfers instantly if you’re both using the same app, just like when your mom sent money to your grandparents to pay them back for the Christmas tree. Adults are increasingly using these payment apps. For stuff like going out for a pizza with friends, or buying something from a garage sale, say.
RYAN: Speaking of which. Check it out. Looks like we stumbled onto the Money Transfer Apps booth. This is the big exhibit everybody is talking about …
[EXHIBIT FLOOR HUBBUB]
BRIDGET : Kinda looks like the space simulator at the Science Museum …Let’s see what happens if I press this button
SFX BEEP
DOORS SLIDE OPEN
GUIDE: Welcome to the Digital Payment Odyssey
RYAN: Let’s go inside …
BRIDGET: Sure. For Henry!
SFX: DOORS SHUT
RYAN: Woah is the floor moving?
SFX GENTLE RUMBLE
BRIDGET: Look at all those floating coins … its like money in zero gravity
GUIDE: I’ll show you how easy it is to send and receive money in a cashless economy . Buckle up. (duck under) And please keep your hands inside the system at all times. First stop: Your Contacts …
RYAN: Ooh, look at all those floating faces.
First stop: Your Contacts …
USER #1: Hey dude!
USER #2: Hola!
USER #3: Heyyyy hows it going
GUIDE: Money transfer apps allow you to find people … often by phone number, username or email … and send them money by linking your debit card or bank account to the platform of your choice.
RYAN: Tap here, tap there and magic. The money’s on the move!
BRIDGET: It seems like magic because just a few taps and the money’s gone. But really, banks are double checking a lot of information behind the scenes so it can take a few days to show up in the account of the person you’re sending it to.
USER #1: Okay, I’ll send you money for the pizza
USER #2: Cool! Split three ways
USER #3: I just sent my part
USER #1: Don’t forget to Venmo me for the concert tickets
USER #4: Wait, who do I pay again?
GUIDE: Take an extra second before confirming the payment. Some users could accidentally send money to someone they didn’t mean to because usernames can look really similar or they tap on the wrong person in their contacts list
USER #1: Just search my name — No. The one with the elephant picture
USER #4: Sent.
USER #1: Got it!
RYAN: A mixup like that is way less likely to happen when you hand someone cash face to face
BRIDGET: That’s a really good point Ryan. One typo, one wrong tap, and your money could go to someone you don’t even know.
SFX COMPUTER PROCESSING SOUNDS
GUIDE: Most transactions are free. But if you send money using a credit card on your profile instead of a bank account there might be a small fee.
RYAN: [GRUMBLY] I gotta pay money to pay someone money? What’ll they think of next.
SFX SLOWING HUM. RIDE POWERING DOWN
GUIDE: Finally – quick safety tip before you go. Just like in the real world, there are a few things to watch out for. Scammers can impersonate people you know. If you get a payment or request for money from someone who looks like a friend, take a moment to verify it’s actually them. When in doubt, contact your friend outside the app to make sure the request is real.
BRIDGET: This is a good time to plug our episode on online scams. Season 8 - Episode 8!
GUIDE: Thank you for visiting the Digital Payment Odyssey
SFX DOORS OPEN. CONFERENCE NOISE RETURNS
RYAN: Well I hope that answered Henry’s question. Though I’ll never understand why anyone would choose to make their Venmo transactions public. Why do I need to know those guys ate pizza last night? I don’t even know them.
ANNOUNCEMENT OVER LOUD SPEAKER: Attention San Fran Fin Lit Pod Con guests. Our payment systems have gone… offline! That means all purchases are on hold until further notice.
MUSIC: DRAMATIC STING
SFX GROANS DUCKED UNDER
ANNOUNCEMENT OVER LOUD SPEAKER: We found an unplugged cord and we’re working on resolving the issue. We’ll update you when our payment system is back online. Thank you!
BRIDGET: Oh my gosh Ryan, did I ruin the whole convention when I accidentally tripped and disconnected that cord? when I tripped earlier?
PASSERBY IN DISTANCE: [yelling] Oh c’mon … who disconnected the cord? Whoever did that ruined the whole convention! We should throw them out!
(SFX: ANGRY MOB SOUNDS)
BRIDGET: Uhhhh, yeah. I wonder who tripped over that cord! We should get them! (QUIET) Oh boy, we’ll see if we make it out of this jam, right after this.
— MIDROLL —
BRIDGET: And we’re back.We’re at the San Fran Fin Lit Pod Con – a big money conference for folks who are interested in money and have podcasts, like us. We’re still trying to answer Ezra’s question about what would happen if we lived in a world without cash. It’s the perfect question for us because… This year the conference is entirely cashless.
RYAN: That means no coins … dollars … or physical money of any kind in sight…
BRIDGET: which has presented some…uh, unique challenges. And all the digital payment systems are down and the food and merch lines are out of control! And honestly, it might be all my fault.
MONTAGE: SFX BEEPS/CONFERENCE HUBUB
VENDOR #1: Sorry can’t sell you our Pod Con t-shirts until systems come back online
ATTENDEE #1: OH c’mon
VENDOR #2: All sales of our pullover hoodies are on hold until further notice
ATTENDEE #2: Seriously? But I’m cold!
ATTENDEE #3: The digital gum ball machine is down too?
ATTENDEE #1: This is chaos! Whose idea was it to go cashless anyway?
ATTENDEE #4: A convention without dollars? How’s that make any cents?
(SFX: SOME LAUGHTER)
BRIDGET: Hey! Stop using our line! We say that every show! Ok, Ezra, don’t give up on us! We will answer your question before the end of the show. We just need a little more info first. In the meantime, let’s take a listener question and hopefully systems come back online by the time this episode is over
MIA: Hi, my name is Mia. I’m 10 years old and live in New York City. My question is: what are checks and how do they work.
BRIDGET: Checks? Mia, where did you even hear about checks?
MIA: I was at a store with my parents and at the checkout the person said checks or cash only. Afterwards i was confused what checks were and how they’re equivalent to cash or credit card
RYAN: Hold on. Are checks are cool again? … we just heard Henry’s grandparents still carry a checkbook too …are checks part of some retro TikTok trend? Cause if so, I’m so here for it!
BRIDGET: Ryan are you a big of checks?
RYAN: (SHEEPISH) In addition to carrying cash, I still carry a check book … I was just too embarrassed to tell you earlier
BRIDGET: OKAY well since you’re such a fan of check books … tell us .. how they work?
RYAN: Checks are a rectangular piece of paper. Like the size of a dollar bill. Sometimes there’s a little carbon copy of the check that you get to keep for your own records … you can get them personalized … mine have a picture of Skimbelshanks in the background. And when you use a check to pay for something, it tells the banks to move money from one account to another like magic!
BRIDGET: Okay… but like when was the last time you paid with a check?
RYAN: Last month to pay for my rent, my landlord only accepts checks. He likes to keep it old-school, like our building’s lenient policy on lead paint.
BRIDGET: But back to checks- you just described how they look … but Mia wants to know how they actually work.
RYAN: Hold up. Why don’t we go find the lady from earlier … the one who seemed to know all about checks and told us to go find her?
BRIDGET: There, in the corner!
RYAN: With the long red trench coat and that suspiciously sneaky hat hiding her face?
You mean that guy in the fedora standing behind a sad, empty table … all by himself?
BRIDGET: Yes, come on. Looks like she has a personalized checks business? Excuse me, hello, hii, I’m Bridget. This is Ryan. We’re two podcasters. We answer questions kids have about money.
FRANKIE: Well isn’t that fun!
BRIDGET: One of our listeners, Mia wants to know how checks work and we figured, by the looks of your, uh, table, you’d know.
FRANKLIN: You’ve come to the right place. Frankie Checkbook, at your service. [JAZZY MUSIC STING] connoisseur of custom checks, lover of fonts and design visionary!
RYAN: I knew there had to be more check fans out there
FRANKIE: And soon, very soon, the world will know the true power of a check!
BRIDGET: Uh, sure, Frankie. Back to our question about how they work…
FRANKIE: Ah, yes! People think checks are old fashioned. But do they know what a check really is? It’s a written money promise. When your grandma writes you a check for your birthday … she’s basically saying … “Dear Bank, please give my grandson some of my money”
SFX WRITING ON PAPER
BRIDGET: So it’s like a permission slip?
FRANKIE: Something like that. Long before people carried paper money in their pockets, they carried heavy coins made of gold and silver.
BRIDGET: That doesn’t sound very practical
FRANKIE: It wasn’t.
(MUSIC: MEDIEVAL LUTE)
(SFX: COINS JINGLING)
INKEEPER: Good day, traveler, why do you jingle jangle so?
TRAVELER: Tis, my bag of coins. So heavy it keeps pulling down my trousers.
(SFX: SLIDE WHISTLE GOING DOWN)
(SFX: COINS HITTING FLOOR)
TRAVELER: Not again.
INNKEEPER: And what brings thee to my inn?
TRAVELER: I need a room for the night. Tis not safe to travel to on the open road this late at night with all this gold and silver
RYAN: So what did all these oldtimes people do?
FRANKIE They invented written promises. Starting around the late 1600s, instead of handing over someone bags of coins, people would take a piece of paper and write
TRAVELER: “I promise to pay you 30 shillings for a one-night stay at your inn. Signed, Me.” ”
INNKEEPER: You have them 30 shillings? Can I see the money?
TRAVELER: No, but my bank has it in their building. Just show them this.
(SFX: CHECK RIP ALONG PERFORATION)
(END MUSIC)
RYAN: So people actually trusted a note scribbled on a piece of paper over real silver or gold coins?
FRANKIE: They trusted the banks and business owners to keep track of payments. Those early paper money promises were like checks. They became popular because they helped money exchange hands without having to lug around piles of coins
BRIDGET: So checks were actually innovative.
FRANKIE: Oh yes! They used to be the hot new thing. Trending… as you’d call it nowadays. (LEANS IN WHISPERING) BUT mark my words … soon checks will be the hot new thing again.
RYAN: I’m with you. No need to tap, swipe or pull out your phone. Just need a good old fashion pen
SFX: CLICKY PEN SOUND
BRIDGET: (skeptical) I don’t know. They’re not THAT popular. In the U.S., people only write like on average 1 check payment a month. Mostly to pay for big money purchases like to pay your house payment, rent or buy a car. I know checks aren’t completely gone but these days it feels like people only use them for special occasions. There’s gotta be a reason for that.
FRANKIE Maybe more people would use them if they knew they had a secret code?
RYAN: A secret code?
FRANKIE Those tiny mysterious numbers on the bottom of the check …
BRIDGET: That’s just the bank’s routing number and account number with a little symbol in between, that’s just how checks work.
FRANKIE Exactly. But that’s how the banks know exactly where the money comes from. Once the check is filled out, the store takes it to the bank. The bank verifies the check is real and that you’ve got enough money in your bank account to cover the amount. And if everything checks out, the store gets the money. The whole thing might take a few days. It’s not as quick as cash, but it’s a lot less expensive than accepting credit or debit cards.
BRIDGET: What do you mean?
FRANKIE Whenever you use a credit card to purchase something, the store has to pay a small fee to the credit card company to process the payment. Usually it’s a percentage of your total bill, but that can vary. Some businesses pass that on to the customer.
RYAN: Oh great, so I have to pay money to pay someone money? Again?
FRANKIE :Other businesses just say, forget it! And they only accept cash and checks.
BRIDGET: Oh, that’s probably why the store Mia was at would only take cash and checks. They didn’t want to have to deal with credit card fees.
RYAN: Hey wait a minute, this conference is going bonkers because the payment systems went offline, but you don’t seem worried one bit.
FRANKIE: When new technology breaks, old ideas tend to shine
ANNOUNCEMENT: Attention everyone, our payment system is still down. We have found a temporary solution. Cash is still prohibited but we’ll gladly accept, I can’t believe I’m saying this, checks as a form of payment … Thank you!
FRANKIE: (to self) Yes, everything is falling into place, just as I planned (diabolical laugh)
(MUSIC: SINISTER SCORE CREEPS IN)
BRIDGET: Wait. A. Minute! Did you have anything to do with the payment system going down? Was that really an accident?
FRANKIE: Let’s just say… there are no accidents.
BRIDGET: (GASPS) You did this so we could start using checks
(SFX FOOTSTEPS)
CONFERENCE ORGANIZER: Sir, we need to talk
FRANKIE I didn’t unplug the cord!
CONFERENCE ORGANIZER: Uh, I didn’t mention anything about cord, so that’s already a very weird thing to say. And turns out we have video footage of you placing a cord in a high traffic area where someone would trip.
BRIDGET: Yeah, like me!
FRANKIE: I just wanted people to understand what could happen if there aren’t back ups in a cashless economy!
BRIDGET: And here I was thinking it was all my fault!
(SFX: CHASE MUSIC)
FRANKIE: Gotta run.
CONFERENCE ORGANIZER: Sir, get back here! … Sir! …
RYAN: She’s really making a run for it
FRANKIE (running away) You’re gonna have to catch me first!
RYAN: Wow, San Fran Fin Lit Pod Con gets wilder every year. Looks like we have time to catch one last panel. Oh and there's one starting now in this conference room. (reading) “The digital future: what the world will look like without cash.” Bridget! This will perfectly answer Ezra’s question from earlier!
BRIDGET: Let’s see if we can quietly sneak in the back.
(SFX Conference doors open, milling audience settles)
HOST: Thank you all for coming to our debate panel on digital payments and a cashless future. Unfortunately, our keynote speakers have been stuck on the tarmac at the airport for the last 6 or 7 hours.
RYAN: (WHSIPERS) 6-7.
HOST: So unless we have anyone else who can speak to this topic, we will be cancelling this panel.
(Sfx crowd goes AWWWW)
RYAN: (Whispering) Oh no, the speakers are trapped at the airport just like we were. Too bad, I was looking forward to this.
HOST: Going once, going twice. Any volunteers?
BRIDGET: (Suddenly) I volunteer as tribute!
RYAN: Bridget!
BRIDGET: (To Ryan) Come on Ryan, we can do this. We can use what we learned at this conference to speak at this conference. You take the side of cash and I’ll take the side of cashless payments.
(MUSIC: INSPIRATIONAL UNDERSCORE)
RYAN: I guess sometimes you gotta step up and be the hero you’ve been waiting for. (LOUD) Ok we’ll do it!
SFX: MIC HANDLING NOISE
BRIDGET: (NERVOUSLY) Hi, we’re Bridget and Ryan from Million Bazillion. We help dollars make more sense.
(SFX: NO ONE LAUGHS, COUGH)
BRIDGET: That’s our, uh, that’s our catchphrase.
HOST: Ok, what’s your argument for a cashless world?
BRIDGET: (nervously) Well, one of the advantages to a cashless world is convenience. It’s a lot easier to carry a credit or debit card, or pay for things with a digital wallet, than it is to always carry the cash you need to pay for things.
RYAN: Yes, but one of the problems with that is that technology can break! That’s why it’s nice to have physical money to fall back on.
BRIDGET: Yes, but sometimes cash can be risky! ! If I drop $20 then poof, it's gone. Someone can forge a check, but banks are pretty good at spotting it. If I lose my credit or debit card, I can always cancel it and get a new one from the bank. And often they can help you get your money back!
RYAN: OK sure, but you can send money electronically to the wrong person and not be able to get it back. And digital money can also be stolen! What about hackers and phishing!?
BRIDGET: Yes, but at least then there’s a digital record of the theft. Lost cash is a lost cause.
(SFX: AUDIENCE CHUCKLES)
RYAN: Sure sure, but in the event of an emergency, cash is still king. During natural disasters, when electricity is down and computers don’t work, people go back to cash to get the things they need. I mean, look at today! We couldn’t even get a snack!
(SFX: AUDIENCE GASPS)
BRIDGET: OK I agree that there are times when cash would work better. But we already basically live in a cashless digital money world - some of us go weeks without touching cash, and we get along just fine! Sure, cash continues to exist and some people use it a lot, but whether we like it or not, more people choose to pay with cards, their phones or other electronic payments than with cash.
(SFX: AUDIENCE APPLAUSE)
RYAN: Sure, but as we enter our new digital future, we should think about who will be left behind. Not everyone has a bank account or credit card. It can cost money to pay for things electronically. And for people like me, who prefer to use physical money, a totally digital system would leave us with no way to participate in the economy!
RYAN: (Building momentum) The fact is, while digital money feels fancy and new, it’s just the latest in a long history of payment systems! Long before we had coins and paper bills, people traded, they shared and kept accounts using all sorts of things, like clay tablets… tally sticks … shells and promises. And people will always find ways to pay each other for things they want. Whether it’s with checks, paper money, or the swipe of a finger.
(SFX WHOOPS AND HOLLARS FROM CROWD)
AUDIENCE MEMBER #1: Brava!
AUDIENCE MEMBER #2: Best panel ever!
HOST: Wow that was like watching the Thrilla in Manila, except instead of boxing, it was well-mannered debate about modes of currency. We can’t top that. You’re both winners today. Thank you so much for a brilliant panel, you two.
(SFX: AUDIENCE APPLAUDS)
(EXPLAINER MUSIC FINAL THOUGHTS)
RYAN/BRIDGET: Phew! That was exhilarating.
RYAN: So what did we learn today …
BRIDGET: Well for starters we don’t live in a cashless economy, yet! Though we might someday. Cash has a reputation for being useful and trusted. And if that remains true, I think it’s going to stick around. Plus, there’s something special about holding paper money in your hand, isn’t there?
RYAN: Hey Bridget, before we end the episode … I’ve got a surprise for you … here you go …
BRIDGET: Oh my gosh, Ryan, where’d you find a mini swag bag with the tiny mic pins? This would make a perfect change purse!
RYAN: Oh, Nick Sterling from the Mint had an extra one. I asked him if he’d be willing to sell it to me. Lucky for me, he said yes. On one condition. That I pay him with a check.
BRIDGET: Ryan!
RYAN: I told ya checks come in handy.
BRIDGET: Okay, but how much money did he want for it?
SFX: DIGITAL DING
RYAN: Don’t worry - I already sent you the Venmo request!
–MILLION BAZILLION THEME MUSIC–
CREDITS
ANNOUNCER: Attention everyone! We’re happy to announce, our payment system is back online. All purchases can now be processed. But we’re still not accepting cash. Thank you!
BRIDGET: That’s all for this episode of Million Bazillion! We’ll be back next week with a fan favorite episode that we wanted to share with you again. Any guesses on which episode it’s gonna be?
RYAN: If you STILL have questions, or an idea for an episode, send them to us at Marketplace dot org slash million. While you’re there, sign up for our newsletter and tipsheet to get some great ideas to continue these important money conversations at home. Marketplace dot org slash million.
BRIDGET: It helps to have help. Speaking of which, we had help from the experts for THIS episode, including: Taylor Nelms at the Financial Health Network. And special thanks to the folks who leant their voices to this episode: Drew Jostad, Alice Wilder, Courtney Bergsieker, Justin Ho, Gary OKeefe, Rachel Khan, I-Yun Chan, Richard Perris, and Daniel Shin.
RYAN: : Million Bazillion is produced by Marketplace from American Public Media. And hosted by me, Ryan Perez and Bridget Bodnar.
BRIDGET: This episode was written by our senior producer, Marissa Cabrera. With sound designing by Sam Bair and mixing by Charlton Thorp. Our intern is I-Yun Chan. And our theme music was created by Wonderly.
RYAN: Bridget Bodnar is the Director of Podcasts at Marketplace. Joanne Griffith is the Chief Content Officer. Neal Scarbrough is the VP and General Manager.
BRIDGET: Million Bazillion is funded in part by the Sy Syms Foundation, partnering with organizations and people working for a better and more just future since 1985. And special thanks to The Ranzetta Family Charitable Fund and Next Gen Personal Finance for providing the start-up funding for this podcast, and continuing to support Marketplace in our work to make younger audiences smarter about the economy.
RYAN: If Million Bazillion is helping your family have important conversations about money, consider making a one-time donation today at marketplace-dot-org-slash-givemillion, and thanks for your support.
The Ranzetta Family Charitable Fund and Next Gen Personal Finance, supports Marketplace’s work to make younger audiences smarter about the economy. Next Gen Personal Finance is a non-profit that believes all students benefit from having a financial education before they cross the stage at high school graduation.
The Sy Syms Foundation: Partnering with organizations and people working for a better and more just future since 1985.
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