New trend reveals younger generation is ditching this common accessory
- Replies 47
In the ever-evolving world of fashion and technology, it seems that the humble wallet, once a staple accessory, has become the latest casualty.
The younger generation, also known as Gen Z, is reportedly turning away from the use of wallets, branding them as 'old' and 'outdated'.
Apparently, most of them view wallets as a relic of the past. The term 'cheugy', a slang term used to describe something unfashionable or outdated, is now being applied to this common accessory.
A woman named Liz June took to social media to express her surprise at this new trend.
'Gen Z uses their phone as their wallet,' she said. 'So they have all their (money and) their IDs in their (digital) wallets.'
The shift towards digital wallets is not just a passing fad.
A 2024 report by PYMNTS, an online payments and commerce hub, and Amazon Web Services found that 79 per cent of younger consumers use digital wallets.
The study also revealed that 51 per cent of them trust their cellular devices to store not just money but also their driver’s licences, medical cards, and event tickets.
The study's authors said, ‘Digital wallets, such as Apple Pay, Google Pay and PayPal, provide convenient and secure ways to complete online purchases.’
‘These wallets remove the cumbersome process of entering credit or debit card details at checkout,’ they added.
This shift towards digital wallets has resulted in many older individuals from the previous generations becoming the target of jokes on social media platforms.
Kelsi Mack, a millennial (the generation preceding Gen Z), shared her experience of being laughed at by her 17-year-old sister for using a sticky wallet attached to the back of her smartphone.
Her sister declared it 'bulky' and outdated, much to Mack's embarrassment.
Trey Kennedy, another millennial, shared a disapproving comment he received from an adolescent.
‘Is there origami in there? It’s…cheugy,’ it said.
Despite the mockery, some millennials are advising youngsters not to ditch physical wallets entirely.
A teacher shared a cautionary tale about a Gen Z student who could not access money in their digital wallet.
‘I watched (using a digital wallet) backfire spectacularly on one of my Gen Z students today,’ she said in a video.
It was noted that to use Apple Cash for sending or receiving money via phone, you must be at least 18 years old.
‘They will make you verify it by sending a picture of your ID. One of my kids got sent $25 via Apple Pay, and she was flabbergasted because she could not get this money … because she is not 18,’ she shared.
In recent years, the rise of digital technology has led to the creation of digital wallets. These virtual wallets allow users to store their payment information on their smartphones, making transactions quick and easy.
They also offer additional features such as storing loyalty cards, tickets, and even identification.
However, the shift towards digital wallets has not been without controversy. Concerns have been raised about security and privacy, as well as the potential for technology to fail or be inaccessible.
Last year, a nationwide outage revealed the risks of relying on digital transactions.
The Optus network failure, which occurred on November 8, left approximately 10 million users unable to make or receive calls, send texts, or access the internet for over nine hours.
The outage had a domino effect, crippling thousands of businesses across the country that rely on EFTPOS machines for transactions. As a result, customers were forced to revert to cash payments.
A business owner previously stated: ‘I'm old-school—I still prefer cash, not just business-wise but for everything.’
'When they turn around and say, “We're going to go cashless”—well, that's ridiculous. If something like (the Optus crash) happens, then what?’ she added.
What are your thoughts on this, members? Do you prefer using cash, or have you tried using digital wallets? If you had a message today to younger people about using physical money, what would it be? Tell us in the comments below!
The younger generation, also known as Gen Z, is reportedly turning away from the use of wallets, branding them as 'old' and 'outdated'.
Apparently, most of them view wallets as a relic of the past. The term 'cheugy', a slang term used to describe something unfashionable or outdated, is now being applied to this common accessory.
A woman named Liz June took to social media to express her surprise at this new trend.
Younger Australians are labelling wallets as outdated. Image source: Shutterstock
'Gen Z uses their phone as their wallet,' she said. 'So they have all their (money and) their IDs in their (digital) wallets.'
The shift towards digital wallets is not just a passing fad.
A 2024 report by PYMNTS, an online payments and commerce hub, and Amazon Web Services found that 79 per cent of younger consumers use digital wallets.
The study also revealed that 51 per cent of them trust their cellular devices to store not just money but also their driver’s licences, medical cards, and event tickets.
The study's authors said, ‘Digital wallets, such as Apple Pay, Google Pay and PayPal, provide convenient and secure ways to complete online purchases.’
‘These wallets remove the cumbersome process of entering credit or debit card details at checkout,’ they added.
This shift towards digital wallets has resulted in many older individuals from the previous generations becoming the target of jokes on social media platforms.
Kelsi Mack, a millennial (the generation preceding Gen Z), shared her experience of being laughed at by her 17-year-old sister for using a sticky wallet attached to the back of her smartphone.
Her sister declared it 'bulky' and outdated, much to Mack's embarrassment.
Trey Kennedy, another millennial, shared a disapproving comment he received from an adolescent.
‘Is there origami in there? It’s…cheugy,’ it said.
Despite the mockery, some millennials are advising youngsters not to ditch physical wallets entirely.
A teacher shared a cautionary tale about a Gen Z student who could not access money in their digital wallet.
‘I watched (using a digital wallet) backfire spectacularly on one of my Gen Z students today,’ she said in a video.
It was noted that to use Apple Cash for sending or receiving money via phone, you must be at least 18 years old.
‘They will make you verify it by sending a picture of your ID. One of my kids got sent $25 via Apple Pay, and she was flabbergasted because she could not get this money … because she is not 18,’ she shared.
In recent years, the rise of digital technology has led to the creation of digital wallets. These virtual wallets allow users to store their payment information on their smartphones, making transactions quick and easy.
They also offer additional features such as storing loyalty cards, tickets, and even identification.
However, the shift towards digital wallets has not been without controversy. Concerns have been raised about security and privacy, as well as the potential for technology to fail or be inaccessible.
Last year, a nationwide outage revealed the risks of relying on digital transactions.
The Optus network failure, which occurred on November 8, left approximately 10 million users unable to make or receive calls, send texts, or access the internet for over nine hours.
The outage had a domino effect, crippling thousands of businesses across the country that rely on EFTPOS machines for transactions. As a result, customers were forced to revert to cash payments.
A business owner previously stated: ‘I'm old-school—I still prefer cash, not just business-wise but for everything.’
'When they turn around and say, “We're going to go cashless”—well, that's ridiculous. If something like (the Optus crash) happens, then what?’ she added.
What are your thoughts on this, members? Do you prefer using cash, or have you tried using digital wallets? If you had a message today to younger people about using physical money, what would it be? Tell us in the comments below!
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