Do you want to get rid of notes and coins Bear does!
“The World Bank says digital money — which lets people buy, pay and transfer money from even simple feature phones — can have an even bigger impact on the developing world, encouraging more savings and entrepreneurship. For all those reasons, noncash transactions are rising at a rate of 11 percent yearly, helped along by electronic and mobile payments, according to a report last year from Capgemini and BNP Paribas.”
“Minting and printing money is an expensive proposition, which is one reason countries like Sweden, Norway and Nigeria are actively working to remove cash from circulation. Boosters of that change tout the benefits of reducing fraud, easier budgeting and the ability to quickly pay for stuff from anywhere in the world.
Some companies are doing a good job of persuading people to pay electronically. China’s tech giants Alibaba and Tencent have convinced people to use mobile payments at a rate of trillions of dollars a year.”
Please visit The long-awaited death of cash may finally be coming – CNET for more.
Bear uses paywave with the card all the time. I still keep a small amount in notes in my wallet which will not need to be replaced for months sometimes. Never use coins anymore. I like the idea of using my phone for payments as I have not only physical security but need to use fingerprint as well for security.
My bank has no branch in my town and have not been to a branch in years. Thank you electronic banking.
My one bitch is I understand the Government in Aussie gets $0.15 tax on every electronic transaction. THIS IS TOO MUCH. Reform in this area is needed from both State and Federal Governments.
After you have read the article tell me how you feel?
PS: Bear achieved a milestone this week. The last of my paper files has been scanned and stored in the cloud (OneDrive). With great relish I took the old wooden filing cabinets down the back and burnt them. Taken 10 years but now I have a cleaner office and a very efficient filing system with OneNote. Thank you Microsoft it works great. I can even scan the rare paper document received with Office Lens on my Pixel 2 mobile and store it.
NO MORE PAPER FOR BEAR LOVE IT