Cashless society ( pros and cons)

[gas112]

pmsl at these people saying i dont have hassle of losing cards i use my phone .
What people dont lose phones ? every week facebook community pages are full of has anyone found such and such a phone or whats the best way to dry my phone i have washed it /dropped it down the toilet

 

[gas112]

So they can't simply check if their wages have gone in? And that is someone else's fault? Good grief.

Who said it was anyone else fault dense one ? and obviously not bothering to check but that doesnt stop them getting into debt

 

[denso13]

Who said it was anyone else fault

We are agreed then, getting into debt is their own stupid fault.

 

[gas112]

We are agreed then, getting into debt is their own stupid fault.

and can you show me were anyone said anything different ?

 

[Captain Nemesis]

I do agree though, as with anything 'online', if it goes down then ...

Think of the social unrest, easily leading to rioting, that a bad actor could create if he shut down the payment system for long enough/widely enough. Imagine if nobody could buy anything, or travel anywhere.

 

[Captain Nemesis]

Contactless cards have a limit on the value of allowable transactions, and they can only be used to buy something,

Apple Pay has no limit, and allows you to send cash.

There is, of course, a multiplicity of Android payment apps, and IHNI which, if any, have the same lack of safety net.

 

[Captain Nemesis]

Stock up with tinned goods and pasta.

Some people are way ahead of you.

Presumably the guns are just out of shot...

 

[cwhaley]

I totally understand why businesses in general are trying to move towards cashless (security, ease, hygiene, etc.) however I still maintain the view that cash is king. It might be a shorter term problem but in places where phone reception is poor (I visit a lot of country pubs on walks) you can be waiting a good while for the landlord or lady to swing the PDQ machine around to get some signal -- handing a few coins and/or notes over takes seconds.

Second to that I absolutely love the fact that cash can be untraceable and anonymous. Sometimes, I don't want my bank knowing where I am and what I'm buying. It was used against me when I remortgaged once ("why did you spend x amount at x venue?") and I'm convinced the data is shared with brands. I stopped buying a particular brand of a product once (which was bought by card on the weekly shop) and I received an e-mail saying the company missed me -- the only way they knew I was buying their product was through an electronic transaction.

There's also a lot of nostalgia attached to it.

 

[Mottie]

but in places where phone reception is poor (I visit a lot of country pubs on walks) you can be waiting a good while for the landlord or lady to swing the PDQ machine around to get some signal

That’s their problem, not yours.

 

[Mottie]

What people dont lose phones ? every week facebook community pages are full of has anyone found such and such a phone or whats the best way to dry my phone i have washed it /dropped it down the toilet

1. You'll need my fingerprint to pay for anything with my phone. You don’t need anything other than the card to make a contactless payment of £100. Just watch the purchase of fags and booze go up with stolen contactless cards.
2. Everything on my phone is on the cloud so I can wipe it and load my data back up onto another phone as long as I can pass security.

A few years ago Mrs Mottie had her purse stolen in the supermarket car park with 5 cards in it. Foolishly she used the same PIN number on them (now corrected) and she was targeted from the checkout so they had clocked the pin. They took over £2.5k in 15 minutes. From next week, even if they didn’t know the PIN they could have made 5 x £100 contactless purchases at the very least. Couldn’t do that with a phone.

 

[noseall]

I don't regularly walk around with several thousand in my pocket, maybe £20 or £40. So the potential losses of someone having access to my bank account via a contactless card are much greater.

And that analogy could just as easily work the other way - i.e. 'I only ever pay in cash so I regularly have large wads of cash in my pocket. If only there were some other way to carry out financial transactions without the need for large sums of money in my pocket...?'

 

[ReganAndCarter]

If only there were some other way to carry out financial transactions without the need for large sums of money in my pocket...?'

Write a cheque, Boyo.

 

[noseall]

Write a cheque, Boyo.

So you agree that any move away from cash is a sensible one.

 

[catlad]

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

So No internet fraud or cyber crime, Lol

 

[catlad]

Only whilst interest rates are so depressed, are returns so poor. I'm not getting much, but it is better than nothing and is on the rise again recently.

How exactly is it going to rise again when we are still just printing money to get out of the last two balls ups! Wishful thinking Harry