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 ...
I have several “cash back” credit cards that I use for almost everything. You don’t get a discount for paying cash, but you get money back for using the cards - doesn’t make sense to me, but I’ll go with the flow. I started using cards mostly at gas stations because when paying cash I’d inevitably get behind some nitwit who wanted to buy a dozen lotto tickets, but couldn’t decide on what numbers he/she wanted. A trip to the actual cash register at the quick trip is an excruciating experience that can take anywhere from 5 to 15 minutes depending on the number of dimwits in front of you.
Many Germans don’t even have credit cards.
AI implants will allow us to control our homes with our thoughts within 20 years, government report claims
LOL - yeah guess I need to do it again - they’re too busy to secure their flippin’ site.
Never saw those - interesting
Absolutely sure. 1996 to be specific. Not sure of years after that but that one I know for certain. Let the guy in the cubicle next to me hold the cash - he asked if he could so I said no problem.
[homemade bills you were xeroxing at the time]
LOL, oh no.....
[Many Germans don’t even have credit cards.]
What do they do? Debit? Pre-paid? (besides phone-pay, etc.)
??
[A cashless society is abject tyranny.]
I think so, too. But I also think that’s where the world is headed and nothing, really, is gonna stop it. Oh people may bitcoin, sure.
I think that’s about correct. They implemented this disaster of an “Obamacare” even though most didn’t want it. And that’s just here, with our corrupt Democrats. And the gutless GOP is now too scared to put the disaster back in the bottle.
They WILL control most transactions. Eventually where no man can buy nor sell without the Mark. I don’t like it; I’m just saying it is coming to the world. According to the Bible.
I'm not sure how they do recurring bills, my guess is automatic bank transfer.
We have German relatives, and when they visited a few years ago, they had apply for a credit card a few months before coming just so they could rent a car. When we visited there last year, my debit card was accepted, but slowed them down. At restaurants, they would return with a portable scanner because they won't take the card away from the customer. That part was a little refreshing. Not sure of the significance, but in brief conversations I've had about it, the Germans seem very reluctant to give up cash.
Actually in 1960 for my 18th birthday, my grandfather gave me two thousand dollar bills for my college tuition
I took them to the bank to deposit and the teller wouldn’t accept them. She had to get a supervisor the ok the deposit.
Yeah, they are great for that especially if you pay them off inside the billing cycle. I haven’t had one for awhile. Still, it’s a necessity these days for renting cars (which I don’t do much of anytime anymore - used to do it every week for the better part of 2 years).
That’s because $1,000 bills were almost exclusively used by banks to transfer money.
For the record.
Where does the Bible mention Mastercard?
Yep, no kidding.
Plus it costs money to print actual money and mint coin.
I’ve never been to Canada. Now that Justin Trudeau is the “new Obama” I have less desire. I had hoped it wouldn’t have turned out like liberal Americans did to our country.
[You would therefore be dependent on the government and on politicians.]
Yes, well they know what’s best for us. According to them.
[“It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name. - Revelation 13:16-17]
Thank you. Exactly the reason I posted this particular article from (gag) Yahoo.
Thank you. I never had “big money” so there must be others that had them. I had some money (back then) and moved it in and out of my bank and brokers (electronically). But if I wanted cash, I could go to the counter and pretty easily find a few even $500 bills they had on hand at just about any of the branches I used.
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