Cashless society ( pros and cons)

https://www.macworld.co.uk/news/apple-pay-hack-3809017/

 

I withdrew £30 cash from an ATM in March this year. I've still got £25 of it because I pay for everything by card, even the canteen in work is card only.
The missing £5 was a tip in the Chinese buffet a few weeks ago. Paid the bill by card but gave the tip as cash to the waiter who had been looking after us.

 

How many more people end up in debt /overdrawn because of the cashless society

 

This is the main reason the banks lobby to go towards a cashless society.
A society spending a lot more money they earn.

 

yep people going out with no money in the bank thinking there wages have gone in on a friday (but havent) 3 contactless payments a day over weekend and 9 overdraft charges waiting for them which they might not know about till next statement

 

If you lose your contactless card, anyone who finds it can go on a spree with your money until you report it's loss to the bank.

 

People have been in debt since cash was invented.

 

If you lose your cash someone can go on a spree until it's gone.

 

I think as a country we all need to be able to identify ourselves. ID cards have not proven popular but I think a Cashless society will be the beginning of everyone being identifiable.

Our ID will be our form of payment, either through our phones or a card.

If your a good decent human being with nothing to hide then you will have nout to worry about.

Crime will be easier to solve
Will reduce the black market.
Cash in hand jobs
Cut down on Laundering and fraud.
Illegal migrants will find it hard to exist without ID
All will safe/make the country billions.

People up to no good will not be able to hide.

We are not ready but it's coming

 

Which is why i said ,,,More

 

Ok, so do you think that our DNA should be taken at birth and stored? Crime would be easier to solve.

Andy

 

next stage up from cards /phones etc is microchip in your wrist as is happening in sweden

 

Yes but that won't happen for a very long time

 

On the face of it I agree it looks convenient, The Problem I see with that system though is that you have introduced a third party to the transaction and once cash is removed as an alternative you might find these people deciding where and when you can make your transactions.

 

So these people haven't got a phone? It's not like the old days where you have to go to a cash machine or the bank to see how much money you have. Ignorance is harder now.