Posted on 10/16/2017 12:42:39 AM PDT by SaveFerris
They say that cash is king, but newer and more convenient payment methods are gunning for the crown.
These days, more and more countries are adopting cashless payments, which includes credit card purchases, contactless payments, mobile banking apps and digital options like Apple Pay. To see which countries were adopting cashless the quickest, Forex, a global travel site, conducted a study comparing 20 of the world’s largest economies.
In the report, Canada was singled out as the country most embracing cashless technology, which could be attributed to its population changing attitudes that began several years ago. A recent survey in May found that 50% of Canadians are ready to get rid of banknotes and coins. While a 2013 MasterCard survey found 90% of the total value of consumer payments in Canada were made through noncash methods.
Cashless payments are becoming more and more popular every year.
While Canada took the top spot on this list, Sweden wasn’t far behind. Of all of the places moving towards becoming a totally cashless society, many believe that Sweden will do it first. In fact, some places in the country have already banned the use of cash, including trams, buses, many shops and most cafes. Even more surprising, 900 of Sweden’s 1,600 banks won’t even let customers deposit or withdraw cash.
The UK rounded out the top three, where the use of contactless payments is growing fast. In 2016, £9.27 billion ($12.29 USD) was spent using contactless methods between January 2016 and June 2016 alone. That was up from £7.75 billion ($10.27 USD) in 2015, during the same period.
After France, the United States ranked No. 5 on the list of countries adopting cashless payments. As we all know, the U.S. has a love affair with credit, and Forex says the average person owns
(Excerpt) Read more at yahoo.com ...
The Puerto Rico experience says cash will make a comeback!
A country with 40 million illegal aliens cannot go cashless.
Yahoo is a maggot site! It starts videos without user interaction.
I guess I am old-fashioned; I like cash. Sure miss the days when I had $1000 and $500 bills (1990’s).
I expect a worldwide currency to follow the next big global financial crisis (before that, Venezuela-type stuff). Before that I would expect individual nations to go cashless (see Sweden in article). But it’s a lot of speculation right now.
I would NOT presume to give you a date nor a timeline for that; this is simply to note we’re coming up on a generation that might not have ever used much, if any cash. Indeed a few of them don’t know they can unlock their car door with a key; so they’re in big trouble if the battery dies in the remote. My mid-2000 Japanese car (Hey UAW, stop supporting Democrats) only has a key-lock on the driver’s side of the car. I guess a lot of them have gone to that.
It's a natural outgrowth (or perhaps precursor?) to cashless.
They'll call it "Auto-Surf" - uninitiated web browsing.
After all, they know what you need to watch, read and hear
better than you do.
What if they have stolen Social Security Numbers, pay taxes and vote? (all illegal of course).
Just asking.....I don’t know the answer there.
I agree. Yahoo runs several “articles” every day bashing the President, giving out fake news based on little more than rumor, feeding liberals who must spend the rest of their day at DU and HuffPo.
How far Yahoo has fallen since the late 1990’s.
Sometimes the conservatives push back. Warning: crazed liberals do not like facts. /I’mSureThat’sNoSurprise
Not sure how you were using $500 and $1000 bills on the ‘90s since they went out of circulation around 1934
If they want to give up control that is their problem.
I could deposit them; had them in my wallet (not constantly). They were not out of circulation. Not by a long shot. Yes, it was all legal, LOL.
No bank ever blinked when I deposited except one, BION, in a semi-ritzy area. What morons. Demanded my cash back and deposited at my nearby branch with absolutely no problems.
I think it’s being fed in as cool and hip. Granted it is slick.
At least one local grocery store has been using the thumbprint ID for several years now. The (liberal) news was quick to point out that it isn’t the Mark of the Beast.
True. It’s not. Not yet.
One day, it will be rather easy to implement. As I’ve posted before, India set out to fingerprint and eye scan 1.2 billion (or whatever their population number is now). They are collecting the data with laptops and attached devices. No doubt it’s being uploaded to the central database (welfare system). Here is the video - this is from several years ago:
India - Eye Scans and Fingerprint Scans for Welfare System - entire population targeted
https://youtu.be/oeBiZGU23SY?t=2m22s
You’re right about that.
Have you changed your Yahoo password yet? :P
Peculiar....doesn’t even mention cryptocurrencies such as bitcoin. Cryptocurrencies eliminate the need for banks. As such, countries where politicians are easily influenced by lobbyists will fight adoption “tooth and nail.” China is in the process of issuing a true national cryptocurrency which will increase China’s ability to eliminate the dollar as the dominant world currency. ....catching the U.S. with its’ pants down, wanking off in the corner with the banking industry.
Yes, you are correct. No electricity, no banks. No banks, no ATMs. No ATMs, no cash, no credit, no buying anything. Look at all of the money they saved.
Canada embraces cashless pay. Why? They have no cash.
” No electricity, no banks. No banks, no ATMs. No ATMs, no cash, no credit, no buying anything. “
You would therefore be dependent on the government and on politicians.
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