...10 countries where cash is becoming outdated: https://www.msn.com/en-us/money/mark...BJTOKP#image=1
...10 countries where cash is becoming outdated: https://www.msn.com/en-us/money/mark...BJTOKP#image=1
While not making the list, Thailand has been moving in that direction. Any trip to 7/11 will see people paying through cashless means.
There has been a big shift in how salaries are now paid. I used to get quite a lot of direct payments to my account (various additional, non-base salary payments), but now everything goes through a central mechanism where tax is taken off at source.
All these cashless mechanisms serve to allow tracking, and particularly taxing, of the money.
I read somewhere once that NZ had the highest number of EFTPOS machines per capita in the world.
Mind that's probably considered at outdated technology at this point.
I won't bother finding out wtf it means then.
Ahh, well there you go then!
EFTPOS... Electronic Funds Transfer at Point of Sale.
Basically a card-reader you swipe and direct debit from. Practically every shop in NZ has one.
Edit: this...
Ah, righto.
And on the way out despite the catchy name?
I find all this 'everything tracked' stuff a bit worrying.
My chances of disappearing off the face of the map riding a Norton Commando with Scarlett Johannson riding pillion have been diminished.
Actually I'm not sure, it has just seemingly been around since forever and a day so just assumed something else better was in the offing... and hopefully that has a confusingly long initialism too.
'Note' to self ... sell the coin collection.
On a serious note, I pay 'cash' for just about everything I can.
The exceptions being Flight Tickets, Car Rego, Child Care etc.
The day to day stuff ... cash is king.
I have 'tap and go' credit cards ... never used them.
Plus I want the kids to learn, both what money is and how it's used.
Coins can go. I have a Day sack that I travel with. It gathers coinage from wherever, to stop me beeping at airport check points.
I do like to have a bit of wedge on the hip though. Even that is becoming an issue now, with various bits of high denomination, worthless paper.
OH plays volleyball for IDR5000 a game. Equivalent to about THB11.
I suggest a few "coins" will always be useful. Gold preferably, they do have history behind them.
I agree the lack of notes in one's wallet reinforces the need to get off the couch and earn some more.
One thing I have noticed recently is that it appears some Thais receive government "Food Money" and have been given a magic card. The local shop has a new "machine" and allegedly no whisky is able to be bought with the card.
Digital cash is cool, until "somebody" informs your card issuer that you are to be denied access to your funds. Then life becomes more immediate.
A tray full of GOLD is not worth a moment in time.
Only thing I use cash for is going to my local pub and that's only because it's a spit and sawdust pub with no card facilities, every thing else paid on card including at other pubs. In fact if my local would take cards I'd have no need for cash at all.
A person who is somewhat more cynical than myself would suggest that the less cash there is, the more opportunity "they" have to impose their taxes on ones personal funds?
I'm going to opt out!
Yeah can pay up to £30 with contactless just put card up against terminal no need to even enter your pin. Always a nasty shock waking up next morning though checking your account and seeing how much spent night before.
How will druggies buy drugs without cash?
Also I just got one of those minimalist wallets. Tiny thing, holds a few cards,no cash. Homeless people are gonna have to get themselves mobile EFTPOS machines if they wanna make some money to buy cheap wine from Super Liquor.
^ tough on buskers too.
Part and parcel of the extended and continued illusion.
Accepted by the dumbed-down masses and enacted as a form of civilised.
Life. It's about them.
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