The term 'cash substitute' refers to a type of payment that can be used instead of cash. Two common examples of cash substitutes are scrip and IOUs. Scrip is a form of credit or debit card that can be used to purchase goods and services. It is usually issued by a company or organization and can be used in place of cash. IOUs, on the other hand, are written promises to pay a certain amount of money at a later date. They are often used between friends and family members as a way to borrow money without having to use cash.