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In the move towards cashless, UK consumers are worried about going cardless

According to a study conducted earlier this year by UK Finance, just one in ten adults in the UK now opts to only use cash, with the rapid with the rapid growth of contactless payment and decline in the number of ATMs leading many to predict that the UK may become a cashless society in the next few years. However, although some may be concerned about the prospect of going cashless, with a study conducted by consumer watchdog Which? revealing that 25 million people in the UK may be negatively affected by the move towards a cashless society, many are also worried about the possibility of a...

Sweden's 'cashless society' affects international residents - 06/24/2019

Fewer and fewer Swedes use cash in their daily lives, but for international residents struggling to set up a bank account or platforms such as Swish, the cashless society can be a headache. The Local asked our readers what they think. In 2010 nearly 40 percent of Swedes said they paid for their most recent purchase in cash. By 2018 that proportion had drastically decreased to 13 percent, according to the Swedish Central Bank. When The Local asked our readers what payment method they prefer, an overwhelming majority said card. But many also highlighted the unique problems international...

Sweden proves that the success of cashless payments carries risks - 06/03/2019

There are a variety of concerns with Sweden’s rapid evolution away from hard currency, some admittedly more serious than others. Among the less passionate complaints among consumers is the fact that cash has been a little hard to come by on the off chance it is actually needed. “On the rare occasions, perhaps once or twice a month, when I want 200 kronor, it can be hard to get hold of. The ATM nearest my house recently shut down: Bankomat, the cash machine company co-owned by the banks, has reduced the number of outlets by a fifth in four years,” once consumer noted. And if you are thinking...

Backlash against cashless stores continue to grow in the U.S. - 05/21/2019

Supervisor Vallie Brown, the driving force behind the cashless store ban, said she was responding to complaints from some of her African-American constituents who said they were being marginalized. "For them not to be able to go and give cash, I thought was really discrimination and an equity issue," Brown said.  The problem isn't limited to San Francisco. According to the Federal Deposit Insurance Corp. (FDIC), 8.5 million Americans are "unbanked" — the term used for people who don't have bank accounts — many of them minorities and seniors. Read more

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...
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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

"It's time to halt the relentless drive for a cashless society" Ross Clark

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The cashless society in question: why going cashless puts privacy at risk?

The IMF wants to ban cash so so you pay the bank to hold your money

A cashless society may not equal financial inclusion

What the demise of the cashless society will really mean

Is going full cashless society a threat?

Cashless backlash delays move to walletless economy

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