Business Change for $20 discussion 200 WORDS ONLY NEEDED

 
Quick—how  much cash do you have on you right now? Check your wallet, purse, and  pockets, and see what you have. Do you have enough to make change for a  twenty-dollar bill? Not so long ago, you could ask a roomful of people  that question, and most folks would have the cash on hand to make  change. These days, it’s less common. Think about the last five or six  purchases you made. Did you pay with cash? Chances are good that you  used a debit card or a credit card instead. Consider the possibility  that someday debit and credit cards will disappear, too.
Technology  has had a profound impact on our view of the necessity of cash. As we  move towards a “cashless” society, the banking system is also challenged  to adapt its processes and the services it provides.
Go  beyond what you learned in the course module, and research some of the  forms of “virtual currency” or cash alternatives that are currently  available to consumers. Some of these include digital currencies, EFT,  ACH transactions, iPay, Google Wallet, ePayments, direct draft.
For Discussion

Briefly  explain briefly the alternative form of payment that you researched and  how it works as an alternative to traditional cash.
What are the advantages of this form of payment?
Are there disadvantages or risks associated with the form of payment that you researched?
As  a consumer yourself, do you use any forms of cash alternatives? Which  ones? Do you have concerns about the security of this payment method,  and if so, what can you do to mitigate these?