Author Topic: The end of cash: another article  (Read 1382 times)

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Austrokiwi

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The end of cash: another article
« on: March 29, 2011, 09:24:09 PM »
I recall every few years seeing a media report on the demise of coins and paper money: 

Heres another one

http://www.stuff.co.nz/business/money/4821733/The-end-of-the-line-for-cash



Offline Figleaf

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Re: The end of cash: another article
« Reply #1 on: March 29, 2011, 10:13:46 PM »
Funny, I don't see articles on the paperless office any more. Has that hype disappeared? Wikipedia blames "the human factor". Why don't we finish off humans? Who needs them anyway?

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

constanius

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Re: The end of cash: another article
« Reply #2 on: March 29, 2011, 11:54:45 PM »
I'll confess, I use a credit card for almost every transaction including life, car & house insurance etc.  My account has no fees & no interest charges if you fully clear the debt once a month, plus it doubles the warranty on electrical items for up to an extra year but on top of that I earn points for every dollar spent, which I cash each month or use for free flights etc. 

They pay me to use their card & enjoy all those benefits,  why would I use cash?

Offline chrisild

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Re: The end of cash: another article
« Reply #3 on: March 30, 2011, 12:52:26 AM »
Oddly enough, "plastic" is less universal than it seems to be. For example, I cannot use my European credit card at many US gas station pumps (where you usually swipe the card at the pump): In parts of the US it works, in other areas I have to enter a five digit ZIP code, except that my German post code is not recognized or accepted. So I have to go inside, at which point I might as well use cash. Similarly, one of my (German) cards includes a PayPass function, but I cannot get it to work in the US. (Have not done extensive research regarding PayPass though. :) )

On the other hand, Americans who travel to Europe sometimes run into problems because many of their credit cards have a magnetic stripe only, but no chip. So machines in Europe that read the chip are likely to refuse those American cards.

As for checks, I have not used one in ages. Cell phone payments, well, I use them for the subway in my home city for example (not being a regular user), and there are services such as mpass.de ... except they are not widely used, mostly for web site payments. Also, from a euro user's point of view, many of these services are limited to payments in one country only. The € cash is a little more advanced in that regard. ;)

Christian