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Canada : Move towards cashless economy could shutout lower income shoppers

As the percentage of people paying for food with cash declines, businesses like Walmart are considering going cash-free. There are many benefits for grocery stores to go cashless including shorter checkout times, heightened convenience and a reduction in theft and human error. “No one wants to really wait to pay for their food items and that’s why the cashless food economy is becoming an attractive proposition for both the consumer and the industry as well,” explained Sylvain Charlebois, professor of food distribution and policy at Dalhousie University. He says cashless stores have...

What will happen to the poorest in a cashless society? - 01/28/2019

Watchdogs and charities are raising awareness as to a new risk to which the poor, homeless and destitute may be exposed, in the years to come. With central banks and governments trying to quietly drive cash out of economies, so as to increase fiscal control, the poor and some elderly are looking at losing their main and only financial instrument. Read more

In Sweden people are getting concerned about the shift towards a cashless society - 11/22/2018

Few countries have been moving toward a cashless society as fast as Sweden. But cash is being squeezed out so quickly – with half the nation's retailers predicting they will stop accepting bills before 2025 – that the government is recalculating the societal costs of a cash-free future. The financial authorities, who once embraced the trend, are asking banks to keep peddling notes and coins until the government can figure out what going cash-free means for young and old consumers. The central bank, which predicts cash may fade from Sweden, is testing a digital currency – an e-krona – to keep...

In Great Britain, 95% of the population is still carrying cash. - 10/01/2018

Nearly the entire United Kingdom carries cash, indicating that its citizens may feel some needs unfulfilled by banking and payment apps. According to a report by the Post Office, the vast majority of the country, around 95%, still carried cash, with the average wallet   containing at least £26. Fewer than 10% were ready to transition to a cashless society. Additionally, over 20% actually preferred using cash for certain purposes and purchases, illustrating that payment apps may not have served all needs required for consumers to trust them completely. Read more

Will you prosper in cashless Britain? - 09/29/2018

As we move towards a seemingly cashless future, concerns are growing about the real impact and risks that a society without physical money brings with it. There are obvious, well-known worries that millions of Britons are being left behind in the world of financial apps, online banking and contactless payments. A quarter of the population fears for the vulnerable and elderly in an increasingly cashless Britain, the Post Office warns, while another quarter simply doesn’t feel we have the infrastructure in place to transition smoothly. Read more

Despite claims of a cashless revolution, in the UK the average purse contains £26 - 09/29/2018

More than 95 percent of people still carry cash and fewer than 10 percent of people are ready to make the move to a cashless society, based solely on digital payments and online banking, a report found. The study, which revealed that the average wallet contains at least £26, backs recent claims that the cashless revolution has been exaggerated and that cash remains an important part of everyday life across the country, and undermines claims from the UK credit card industry that the days of notes and coins are numbered. Read more
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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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Top Ten Things To Know

The debate

What the demise of the cashless society will really mean

Is going full cashless society a threat?

Cashless backlash delays move to walletless economy

What are the pitfalls of a cash-free society ?

In a cashless society, Big Brother will always know when you buy milk

Education: how will we teach the value of money without cash?

Cashless society Vs terrorism: Are States fighting last year’s war again?

Inclusion: a cashless economy fights the poorest, not poverty

A cashless economy to root out theft and petty crime?

A cashless economy as a bulwark against fraud and tax evasion?