And They Don't Take Cash
At the time the book was written, the concept of a person living without cash, and conducting all their transactions using payment cards, was a bold vision. The author asserts that you would have to do some research to find out which merchants accept credit cards, perhaps buying some things online, and avoid cash-only transactions such as vending machines. Hence, living without cash would be "possible ... [but] somewhat inconvenient."
One solution at the time was a "smart card," which would keep track of the amount of funds available on the card itself, so that a merchant (or vending machine) could read the card, rather than connecting to a network, to determine whether the card is "good" for the transaction. EN: with the expansion of the Internet and wireless networking, even soda machines are connected, and at very little expense, so the "smart card" concept is moot.
The author also looks to the Internet, which seemed to be taking over everything in the late 1990's, as another factor that would make cash less relevant. However, since the dot-com crash, it's become clear that the Internet isn't the answer to everything, and many transactions will continue to take place at brick-and-mortar retailers.
He also looks to "virtual money" as a replacement for hard currency - but again, this was a fad at the time that never really caught on.
In the end, he concludes by reiterating that payment cards were born, evolved, and grew in popularity at an amazing rate, with much innovation along the way, and much for the future. He states that it is "by no means implausible" to envision a future in which currency is obsolete.