Cashless Generation: how our relationship with money is changing
Monopoly turns 100 and releases an updated version where all payments are digital. It’s a way to reflect on a cultural and technological revolution that has already taken hold among Gen Z
A few weeks ago, at the New York Toy Fair, Hasbro unveiled the new Monopoly App Banking, marking a century since the patent of one of the world’s most famous board games. This is a cashless version, perfectly suited to the new technological era: perhaps less romantic, since all transactions happen via an app, but at the same time more practical.
Monopoly celebrates its first century by trying to keep up with the times. It’s obviously also a smart marketing decision, which has sparked plenty of debate in the media. Yet it carries a strong symbolic weight.
This, after all, is not just any game. Entire generations of future entrepreneurs made their first deals around that iconic board, investing in properties like Boardwalk or learning, for the first time, that life is full of unexpected twists.
Introducing a cashless version means reflecting, like a mirror, a growing global trend in financial transactions: cash is disappearing, and even credit cards are becoming dematerialized, increasingly virtual.
Whether this makes sense for a board game remains to be seen. Srinidhi Balakrishnan wrote in the Financial Times that she fears “this new version of Monopoly may have traded genuine fun for a shiny modern wrapper. Gen Z may prefer fast, easy payments, but that’s nowhere near the joy of waving piles of pink and orange bills in your mother’s face after beating her—helped by a bit of good old-fashioned cheating, of course.”
A Generation Without Cash
There is little doubt that Generation Z—those born between the late 1990s and early 2010s—is radically changing its relationship with money.
According to the “Smart Economy” report by BIP Group, 78% of young Italians in this generation regularly use digital payment tools, such as mobile banking apps and e-wallets, preferring them to traditional methods.
When it comes to cards, Gen Z shows a clear preference for debit cards: data from Cetif reveals that 67% use them for in-person purchases, followed by prepaid cards (54%) and mobile payment apps (45%).
But above all, this generation experiences frustration with even the slightest delay—including having to enter a PIN code.
Invisible Cards
Payments are becoming an invisible gesture, and this trend is likely to strengthen between now and 2054. Shopping experiences are becoming more seamless, and the moment of transaction almost imperceptible. At the end of a purchase, all it takes is a tap on a phone, a click in an app, or a swipe on a terminal to complete the transaction.
In this way, the virtual wallet can be “hidden” within other objects: you can pay with a smart ring or bracelet. All of this relies on Near Field Communication (NFC), a wireless technology that enables data exchange between devices over short distances through proximity communication.
In other words, we’ve gone from cashless to contactless, and now to dematerialized cards—just like in the new version of Monopoly.
Blurring Boundaries
At the same time, banks are becoming increasingly virtual. Some institutions are closing their physical branches in favor of fully digital models, while others were born exclusively to manage digital currencies.
From one perspective, this is also reshaping security boundaries, shifting the focus toward cyber protection and away from physical threats. When banks no longer have a cash desk open to the public, and merchants handle less physical cash, they have less to fear from robberies but face a growing risk of social engineering fraud, requiring new preventive measures and operational countermeasures.
Yet, while this is the direction, the present is still made up of hybrid models. Older generations still prefer cash payments, and access to digital tools is not the same for everyone. Local banks often offer more direct service, without relying on bots or algorithms that aren’t always precise.
Moreover, some services must still be performed in person, as required by law. Large fortunes are still managed through more traditional models. At the same time, financial intermediaries are increasingly turning to technology—especially Generative AI—to offer more complete experiences to their clients.
The feeling is that much is changing in how we approach money. Before the technological revolution can be fully realized, the cultural revolution must come first. That’s why even a simple board game can take on an entirely new perspective.
This content was developed with contributions from Paola Capitanio (Equity Partner, BIP), Antonio Vitale (Director, BIP), and Federico Vitali (Manager, BIP).
Explore the intersection of economy and cutting-edge technology and access exclusive insights on the future of digital shopping—download the report “Smart Economy – The Rise of Virtual Shopping Agents”.
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Our word for this post is Social Engineering Fraud
A type of cyber fraud that leverages psychological manipulation to deceive individuals into revealing sensitive information (such as access codes or banking data) or performing harmful actions (such as authorizing unauthorized transactions).
Unlike purely technical attacks, the weak point here is the human factor: the attacker poses as, for example, a bank employee, a trusted supplier, or a colleague to gain the victim’s trust.
With the digitalization of financial services, this threat is becoming increasingly common, requiring new prevention strategies based on education and advanced security technologies.
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