> The move away from cash has been a bonanza for credit card companies and newer firms such as Square, which handle electronic transactions
This really makes it sound like a happy accident.
No accident. Credit card companies have been pushing for a cashless society very overtly. Transaction fees make the big payment gateways billions of dollars every single day.
No government would want to intervene, because all payments are now traceable, which makes law enforcement / tax office / central intelligence jobs easier.
There are some benefits for sellers, when the system works, transactions become a little quicker and there's no more trips to the bank to deposit / get change.
There are a few benefits for richer consumers, who can use phones to pay. Sometimes the arbitrary limits that companies place on even biometrically secured payments make it more of a minefield to leave the house without a card, though.
I'm gonna be sad when the day finally comes and physical money is abolished. Looks like that's where we're headed. Anybody know of a prepay card specifically geared towards kids pocket money?
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[ 4.2 ms ] story [ 13.2 ms ] threadThis really makes it sound like a happy accident.
No accident. Credit card companies have been pushing for a cashless society very overtly. Transaction fees make the big payment gateways billions of dollars every single day.
No government would want to intervene, because all payments are now traceable, which makes law enforcement / tax office / central intelligence jobs easier.
There are some benefits for sellers, when the system works, transactions become a little quicker and there's no more trips to the bank to deposit / get change.
There are a few benefits for richer consumers, who can use phones to pay. Sometimes the arbitrary limits that companies place on even biometrically secured payments make it more of a minefield to leave the house without a card, though.
I'm gonna be sad when the day finally comes and physical money is abolished. Looks like that's where we're headed. Anybody know of a prepay card specifically geared towards kids pocket money?