Cashless Economy
One of Asia’s Largest Cryptocurrency Exchange Hacked What Really Lies Behind Sweden's Cashless Crusade A New Bill in Washington D.C. Would Bar Local Restaurants From Refusing Cash Going Cashless Can Be Dangerous, Malaysian President of the Consumers Association Warns In Germany, the cashless economy raises concerns about trust and privacy Sweden’s central bank governor calls for public control over its payment system Cashless society: from Sweden to India, some might get left behind A growing risk of banking disaster in a cashless economy Sweden: citizen rebelling against a cashless economy
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In Washington Metro wants to make cash disappear: Critics worry the change will disproportionately affect the poor





In Washington Metro wants to make cash disappear: Critics worry the change will disproportionately affect the poor

On an X9 bus headed toward Metro Center last week, riders quickly tapped their SmarTrip cards as they got on board. But at one stop, the line paused as a man slid dollar bills into the cash feeder. The brief slowdown illustrated why Metro planners are considering barring cash on as many as 13 express bus routes, forcing the 12 percent of bus riders who use bills and change to switch to SmarTrip cards. Critics worry that the idea, headed for a November vote by Metro’s board, will make it harder for the poor, homeless and disabled to take express buses — relegating them to a sort of second-class status on the slower local buses that would continue to take cash.

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Go Further

Access to Cash Review : "Transition to cashless Society could lead to Financial Exclusion and System Vulnerability" - 03/15/2019

Cyber theft - A serious concern in cashless India - 03/13/2019

Cyberterrorism: the electronic banking system at risk - 02/18/2019

"In 2018, over a third of the world’s consumers experienced debit or credit card fraud,” says Justin Hansen, security architect at Venafi. - 02/13/2019

Banknotes are actually good for the environment ! - 02/12/2019

The ecological impact of the disappearance of cash - 01/29/2019

Cash is not the king of crime and tax evasion - 12/07/2018

Cybercrime: the invisible theft in the cashless economy - 11/06/2018

The philadelphia city council will ban cashless stores. - 10/26/2018

Not all consumers are happy, while more and more retailers are refusing cash - 09/20/2018

Major retailers delay New Jersey's bill to ban cashless stores - 09/17/2018

Investing in a cashless society - 09/05/2018

British Retailer Dixons Carphone Faces a Major Breach That Affects Nearly Six Million Bank Cards - 07/10/2018

One of Asia’s Largest Cryptocurrency Exchange Hacked - 07/10/2018

A New Bill in Washington D.C. Would Bar Local Restaurants From Refusing Cash - 07/10/2018

A growing risk of banking disaster in a cashless economy - 06/04/2018

In Sweden, authorities fear "negative spiral" as society goes cashless 'too fast' - 06/04/2018

Visa's payment system: massive outage in Europe, fragility of global payments brought to light - 06/04/2018

Banking Security

Cyber theft - A serious concern in cashless India

"In 2018, over a third of the world’s consumers experienced debit or credit card fraud,” says Justin Hansen, security architect at Venafi.

Cybercrime: the invisible theft in the cashless economy

British Retailer Dixons Carphone Faces a Major Breach That Affects Nearly Six Million Bank Cards

Have your say

Who would be in control of the currency in a cashless society?

Who would be in control of the currency in a cashless society?
In many ways, recovery from the crisis has become possible due to prudent policies of central banks and states, which included instruments such as adjusting base interest rates and quantitative easing. However, the key role here was played by the very possibility of control over the system. In the...

Why a cashless economy is simply the privatization of digital payments

Why a cashless economy is simply the privatization of digital payments
The share of digital payments is steadily growing. Capgemini and BNP Paribas expect people around the world to make 726 billion transactions using digital payment technologies by 2020. "Non-cash payments have increased in volume due to the rise in adoption of digital payment services across all...

What is the social utility of cash ?

What is the social utility of cash ?
Some say a man is only worth the sum of his possessions; should we produce bank statements, instead of identification, when stopped by the police? But what if the money in our pockets were more than just a financial instrument used to acquire goods? What if banknotes were the first societal link...
Academic Research

Ecology: The Carbon Footprint of the New Means of Payment

Children, education and the ethical issue in a cashless society

John Howland Cochrane, economist and professor at Berkeley: "The ability to transact with anonymity and privacy has been a central freedom for hundreds of years."

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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The debate

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

Education: how will we teach the value of money without cash?
With the increased fear of the dawning cashless world surrounding us, the matter of pedagogical...

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

Cashless society Vs terrorism: Are States fighting last year’s war again?
The deletion of cash will do little or nothing to tackle terrorist cells, which have an arsenal of...

Inclusion: a cashless economy fights the poorest, not poverty

Inclusion: a cashless economy fights the poorest, not poverty
Payment tools which were, a few decades ago, reserved to the wealthy are now widespread, as banking and financial systems develop throughout the world. According to some, the development of electronic means not only warrants the termination of paper currency but would also enable further financial inclusion for impoverished masses. Yet, financial experts fear the potential backlash of such a theory, as recent examples have shown.

A cashless economy to root out theft and petty crime?

A cashless economy to root out theft and petty crime?
The prospect of making crime disappear has been addressed simultaneously with simply deleting other human woes, such as tax evasion and poverty, namely by economist Ken Rogoff. But just as going cashless would merely add more red tape to being poor, suppressing paper currency would do nothing to stymie crime. In fact, our increasingly cashless society has given birth to new, bigger, stealthier forms of crime.

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

A cashless economy as a bulwark against fraud and tax evasion?
It was Ken Rogoff’s most controversial theory: economies should ban cash in order to address tax evasion and place every single transaction on their radars. By doing so, the rich would no longer be able to hurdle suitcases packed with bills onto airplanes and fiscal justice would be resumed. But the theory has many holes.

Does a cashless economy really boost economic growth for all?

Does a cashless economy really boost economic growth for all?
Various economists are calling for the strong reduction of cash in order to boost economies and the efficiency levels of central banks. While the arguments make some economic sense, their implementation would come at a high political and democratic price. Must economies be privileged and take the lead on political freedom, at the price of unethical government practices?

Governments and sovereignty concerns in a cashless society

Governments and sovereignty concerns in a cashless society
Central banks are putting up remarkably little resistance in defending the currencies they issue, in the global war on cash. As cash prevalence slowly dwindles, private banks and payment solutions are getting closer to their goals, and central banks take a second-row seat to the show. But the demise of cash would relinquish them to the status of secondary players on the market and do disservice to the peoples they administer.

Why commercial banks are lobbying in favor of a cashless economy

Why commercial banks are lobbying in favor of a cashless economy
Banks are eager to press on towards cashless societies, with increased efficiency and margins in sight. The abolition of cash, however, will generate new hidden costs for the public, and place economies under a high risk, with all eggs in one basket.

Ecology: the carbon footprint of payment means in a cashless economy

Ecology: the carbon footprint of payment means in a cashless economy
Amongst the many arguments presented by anti-cash supporters, the environmental balance of banknotes. Would a cashless world better serve the planet’s interest? Not necessarily: banknotes have excellent footprints due to their durability and recyclability, while cashless payment systems simply hide their own.

The convenience of payments means in a cashless economy

The convenience of payments means in a cashless economy
The appearance of immaterial payment systems has increased economic convenience for citizens. From there, payment solution companies go double-or-nothing, promising that going full cashless would be even more convenient. But the inconvenience of going to an ATM will be quickly replaced by new, far more tedious ones, should the cash option disappear.
The website "Cashless Economy" (cashless-economy.com) is edited by individuals and civil society groups fully committed to defending privacy and civil liberties against abuse and the risks inherent in a cashless society.
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