How could they afford it before ... just do the same thing now...increase your price...oh no they cannot as the competition got bigger so lets just screw the customers-most would not care as long as they can use their watch to pay with
Australia to be "functionally cashless" by 2025
- Thread starter ozcopper
- Start date
I'd love to know the actual amount their profits increased when they stopped cash. I'm sure they could generate those numbers.How could they afford it before ... just do the same thing now...increase your price...oh no they cannot as the competition got bigger so lets just screw the customers-most would not care as long as they can use their watch to pay with
I doubt it was much, if it reduced staff numbers then maybe but I can't see how it would change sales income.
I'm sure the reduced 'float' in a cash register could look like an improved cash position for accounting purposes..
we have https://vouchers.cdc.gov.sg/
the SG govt distribute $500 in CDC voucher for every household in 2024
people use mobile phone to claim that, and use QR code to generate the payment +coins
half of the amount to support small neighbourhood business, the other half for use at the supermarkets
older folks will print out those QR code vouchers and spent them.
the SG govt distribute $500 in CDC voucher for every household in 2024
people use mobile phone to claim that, and use QR code to generate the payment +coins
half of the amount to support small neighbourhood business, the other half for use at the supermarkets
older folks will print out those QR code vouchers and spent them.
Australian businesses and companies could soon cop huge fines if they don't accept or carry cash. Politicians Andrew Gee and Bob Katter have introduced a bill that aims to keep physical money in circulation.
au.finance.yahoo.com
Major fight against cashless revolution threatens Aussies with $25,000 fine
A bill could soon force businesses to accept and carry physical money to push back against the cashless revolution.
Dunno about Bob Katter but the bill sounds good.Australian businesses and companies could soon cop huge fines if they don't accept or carry cash. Politicians Andrew Gee and Bob Katter have introduced a bill that aims to keep physical money in circulation.
Major fight against cashless revolution threatens Aussies with $25,000 fine
A bill could soon force businesses to accept and carry physical money to push back against the cashless revolution.
The system has been setup in a way that such actions bare no results. The same is true with petitions and most protests. Nobody cares about the preference of a fringe minority. We could end cashless advancements tomorrow if the majority voted with their feet. From banking, to corporations, to small businesses - they'd soon change their ways if profits fell off a cliff. But so few of us see the significance of keeping cash alive, and it's like trying to change the course of a cruise ship by scooping air with your hands on the upper deck.
I think this is connected. A few weeks ago I had a message on my online banking to update my details.
The message stated that this was a requirement for the governments KYC rules.
I have had this account for 25 years. Most of the questions (other than name and address) were marketing questions about banking 'products'. However a couple of weird ones were asking you to specify the source of your wealth and income details. I didn't fill it out but I suspect that any lack of detail could be used to justify locking you out of your own account.
I don't want to provide details other than my identity. I'm sure none of this will be used for my benefit.
The message stated that this was a requirement for the governments KYC rules.
I have had this account for 25 years. Most of the questions (other than name and address) were marketing questions about banking 'products'. However a couple of weird ones were asking you to specify the source of your wealth and income details. I didn't fill it out but I suspect that any lack of detail could be used to justify locking you out of your own account.
I don't want to provide details other than my identity. I'm sure none of this will be used for my benefit.
My daughter was asked these exact same questions. She is a 21yo apprentice without much money. She was locked out of her accounts until she answered them. Bank was St George. No notice, her cards stopped working so she rang them to find out what was going on!
Interesting, I'll put in some details. I don't think they should be able to lock accounts without referring them to a serious financial regulator and also have a penalty for unjustified locking. Of course there is zero chance of oversight that works for average citizens.
I just filled up at the servo and the attendant told me that their card terminal has been down for 4 days, and barely anyone could get fuel because nobody keeps cash. I said "You know why..." and he looked at me with a blank gaze. I continued with "...'cos they're idiots!" and walked away. What's the bet that even he won't be keep cash on him from here on out.
That's the thing; if you don't understand the true value of cash, these minor inconveniences aren't going to be enough for people to change their ways. It's going to take massive disruptions for people to realise the importance of financial freedom outside of the digital banking realm. I don't even like cash because it's still fiat, but if I have to choose between digital dependance and entrapment, then the private, physical exchange is going to be my #1 choice.
That's the thing; if you don't understand the true value of cash, these minor inconveniences aren't going to be enough for people to change their ways. It's going to take massive disruptions for people to realise the importance of financial freedom outside of the digital banking realm. I don't even like cash because it's still fiat, but if I have to choose between digital dependance and entrapment, then the private, physical exchange is going to be my #1 choice.