Cashless society a few taps away

Discussion in 'Current Affairs' started by SpacePete, Nov 19, 2015.

  1. SilverDJ

    SilverDJ Well-Known Member

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    I cynic in me says there will be an exemption for property.
     
  2. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    Yeh, they'll need to make 2 separate payments. :)
     
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  3. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    No money is dirty!!!!
     
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  4. leo25

    leo25 Well-Known Member Silver Stacker

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    Not even fake notes? or real coins that fell in dog poo on the street?
     
  5. Pr176

    Pr176 Active Member

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    The narrative for this is already being rolled out,proposing a ban on $100 notes,these are only held by drug dealers and the like...
     
  6. m3sca1

    m3sca1 Active Member

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    There is a whole bunch of transactions that are factored into the stock market calculations, black market stuff, and all the things people want to stay anonymous for when purchasing. Examples of things like making payment to prostitutes, buying illegal drugs, purchasing a gift that you don't want to show on a credit card, simple business models that are too simple to involve credit card transactions, street vendors selling food at a local market, my local noodle shop, hiring a rickshaw, things like that.
    So although it sounds easy to say all these things can be done with card or other EFT, (with the obvious exclusion of illegal drugs), the nature of people wanting to keep things simple will keep the need for a simple and anonymous transaction. Also emergency situations when power goes down, or networks fail. Everyone paying cash felt pretty smart when the EFT transactions went offline at my local Woolworths last week! And if all the cash is taken away, people will take up other methods of payment, whether it be Rum, physical metal, services rendered, or magic beans.
     
  7. Ag bullet

    Ag bullet Well-Known Member

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    Except that once there is a cashless society they could flick a switch and ban transactions to whoever or for whatever they like.
     
  8. reaver

    reaver Active Member

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    It's mixed messages with phasing out big bills.
    In the last 12 months most banks have started to allow you to choose denominations $10 to $100 bills when you withdraw cash at ATM's.

    I withdraw $100 in 10's sometimes just for giggles.
     
  9. systematic

    systematic Well-Known Member

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    m3sca1 likes this.
  10. SilverDJ

    SilverDJ Well-Known Member

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    What banks are putting $100 bills in the ATM's?
    All the machines I use are $20 and $50 only.
     
  11. reaver

    reaver Active Member

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    I know for sure most Melbourne metro ANZ and CBA ATM's will dish 10,20,50,100 denominations.
    You enter the amount to withdraw and then at the screen where you select whether you want a receipt or show balance on screen, etc. you have the option 'choose denominations'
     
  12. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Does it matter, if we go digital?

    When CBA was down, did it stop anyone using another bank ATM.... usually they waive the fee and reimburse third party fees.
     
  13. alor

    alor Well-Known Member Silver Stacker

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    do you have PayNow yet, paying using mobile phone number that is tag to a bank ac ?
     
  14. systematic

    systematic Well-Known Member

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    Central banks stack gold ... digital is for the mindless masses ...
     
  15. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    Had a good experience recently in one of the cashless payment apps. The new user got $10 and the referee got $10 too for each referral. You also get an instant rebate (credits in your app) for every purchase. Saw most customers used the app to pay on this food retailer. Agreed, we are in the new era of digital payment.

    Plenty of cashless payment system apps now and surely you need a strong financial backing for the start up. It appears the current incentives plus points earned on c/c works well to bait more users to sign-up.
     
  16. Currawong

    Currawong Member Silver Stacker

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  17. JOHNLGALT

    JOHNLGALT Well-Known Member

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    "Cashless society a few taps away"
    HA HA HA, brain-dead sheople to the fleecing and slaughtering.
    Most people on the street, supermarket etc. don't even know what real money is.
    They think it is the plastic or digits in the teller machine or on their phone app.
    The sheople who think they are getting something for nothing will line up to get a chip implanted in their hand.
    Not this little black duck. _JOHNLGALT.
     
  18. systematic

    systematic Well-Known Member

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    They should send a memo to the RBA about it ... Nigerian officials were bribed for note printing contracts ....

    https://www.smh.com.au/business/sec...-officials-uk-court-told-20160406-gnzchl.html

    https://www.smh.com.au/business/com...eserve-bank-bribery-case-20180521-p4zgl1.html
     
  19. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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  20. systematic

    systematic Well-Known Member

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    Beware of Nigerian scammers ... it seems the RBA didn't get the memo ....
     

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