CUPERTINO, Calif.—Apple CEO Tim Cook is predicting that when the children of college-age students today are old enough to begin paying for things, that they will not understand the concept of cash.
Cook, touring the U.K. and Ireland to promote Apple Pay, made that statement in an address to students at Trinity College Dublin. “Your kids will not know what money is,” Cook told them.
Cook’s forecast may be on the mark, as cash payments across the globe continue to decline. In 2014, the number of non-cash payments made in the U.K. eclipsed for the first time those made with physical currency, Quartz reported.