Australia discovers the problems of a cashless society - 06/23/2020

The deadly coronavirus pandemic has seen many stores refrain from accepting cash payments, however experts are warning the elimination of coins and notes and the emergence of a cashless society may not benefit everyone. There are concerns for hundreds of thousands of Australians who may prefer to use cash, particularly in remote and rural areas. Australia is on track to become one of the world's leading cashless economies. Read (and watch) more 

Cashlees society: low income Canadians are left behind - 06/22/2020

An increasingly cashless society threatens to leave low-income Canadians who lack access to the technology behind. BNN Bloomberg looks at the challenges with John Stapleton, innovation fellow at the Metcalf Foundation. Watch the video 

Socialist Spain is squeezing on the poor - 06/15/2020

Spain’s coalition Government plans to cut cash payments and aims to gradually eliminate cash, in a bid to move towards a cashless society. THE Government’s Ministry of Finance plans to cut cash payments from €2,500 to €1,000 in a bid to fight fraud. The socialist party tried to reduce the maximum limit for cash payments from €2,500 to €1,000 in early 2019, but failed. However, the new coalition government has indicated that it plans to re-propose the idea and get cash payments reduced to €1,000. Read more

All cashless is not good for Australia - 06/13/2020

Is it wise for Australia to become a fully cashless society? The coronavirus pandemic has led many Aussies to use contactless payment systems instead of physical cash, whether it's using their card or their phone (think Apple Pay). According to a survey by Mastercard, 44& of Australians said they're using cash less often since the pandemic began. It's not hard to imagine why, in the middle of a global respiratory pandemic. 80% of respondents in the Asia Pacific said they saw contactless payments as a cleaner payment option. In the future, 75% of Aussies in the survey said they'd keep...

More states and cites are fighting against cashless - 06/08/2020

According to U.S. Census Bureau estimates, retail sales plummeted 16.4% in April 2020. As state and local governments across the country begin to lift or ease Stay at Home Orders and business closures, retailers reopening their doors are grappling with how to protect their employees’ health and reassure customers that it is safe to shop. In response to the COVID-19 pandemic, many retailers are adopting contactless delivery or curbside pickup business models. Curbside pickup allows customers using debit or credit to pay in advance and pick up their pre-packaged products without any direct...

UK Government must protect the most vulnerable against cashless society - 06/07/2020

Vulnerable people risk being unable to access the money they need to pay for goods and services, unless the government acts to support the “fragile” cash system, the consumer group Which? has warned. The coronavirus crisis has accelerated the adoption of contactless and other cashless transactions across the UK and led to sharp drops in ATM use as more people shop online or opt for what they perceive to be safer payment methods. However, research by Which? found that many of those who had been unable to shop for themselves had used cash to reimburse friends and family who had stepped in...

Despite Government attacks, cash is still king in India - 06/02/2020

Nearly 83 per cent of the value of total consumer transactions were made with cash in 2018, compared to 87 per cent in 2012. Cash still rules as the king of payments in India, despite the rising trends of digital payments in recent years, as the aftereffect of demonetisation wears off. Cash in circulation in proportion to GDP has now once again reached a level as high as it was before demonetisation. Nearly 83 per cent of the value of total consumer transactions were made with cash in 2018, compared to 87 per cent in 2012, Capital Economics said in a research note citing RBI data. While it...

Armenia postpones its move towards cashless system - 05/27/2020

During a session held by the Standing Committee on Healthcare and Social Affairs of the National Assembly of Armenia today, Deputy Minister of Labor and Social Affairs Smbat Saghiyan said Armenia will postpone the period for full transition to the cashless method of payment of pensions. According to him, the government had initially planned to introduce the cashless method of payment of pensions in Yerevan, Gyumri and Vanadzor starting from July 1, 2020, but taking into consideration the coronavirus situation, the government offers to postpone the period until September 1, 2020, after which...

Mixed feeling to cashless payment in Malyasian immigration department - 01/22/2020

PUTRAJAYA: The Immigration Department’s cashless system has received mixed reactions from the public. Some lauded the move, saying that it sped up transactions, but others said they preferred paying with cash. Fadhilah Uyop, 31, who went to the Putrajaya Immigration Department to renew her passport, said she was pleased with the e-payment system. “I used my debit card for the payment. It was quick and easy. “Previously, it would have taken me close to an hour to get my passport renewed. Today, I got it done in less than half an hour.” “The cashless system makes everybody’s job...

Canadians are not that crazy about cashless - 01/20/2020

Paying for goods and services with plastic seems to be the most convenient thing to do nowadays, but only 5% of small business have stopped taking cash, according to a Bank of Canada study. The study, entitled Merchant Acceptance Survey, noted futuristic forecasts of a cashless world seem to be overblown. “We estimate that only 5% of merchants currently do not accept cash, and an additional 8% plan to stop accepting cash within the next five years,” the study stated, as reported by Blacklock’s Reporter. “Importantly, 85% of merchants stated they have no plans to stop accepting cash.”...
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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.

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