Cashless society

[wayneL]

Light at the end of the tunnel

MSN

SNIP:
From 1 October, all Norwegian entrepreneurs are required to accept cash payments from customers if the amount does not exceed £1,500 (approx. £1,300). Exceptions include medical practices and public transport.

The Minister of Justice and Home Affairs, Emilie Enger Mehl, admitted in an interview with TV2 that not all citizens use digital forms of payment. According to the latest research, as many as 600,000 Norwegians consciously do not use electronic payment solutions. This accounts for more than 10 percent of the country's population, with a predominance of seniors.

 

[macca]

The other problem with a cashless society is the ease that scammers can steal identity details, apart from security breeches on supposedly secure sites, Optus, MBF etc etc we now have a new scam

Fake QR codes are now being stuck over legit signs in car parks and other places where people must pay by phone. The QR codes take you to a fake website and steal whatever data they can from the phone.

<<
Because we have become accustomed to scanning codes to check in to venues, pay for parking, order a meal at the pub and a whole host of other acts, many wouldn't question what they're pointing their phone at. But Electronic Frontiers Australia chair John Pane told Yahoo Finance that scammers are slapping their own QR codes over legitimate ones.

"QR codes allow bad actors to leverage and infect devices with malware," he explained.

"They can steal personal information or conduct [quishing] scams... where the QR code redirects you to a malicious site or infects your device with malware to extract the personal data.">>

Major cashless warning over new scam conning Aussies out of thousands of dollars

These scams are lurking in plain sight and Aussies have been urged to be extra careful about what they scan.

au.yahoo.com

 

[Dona Ferentes]

quishing. .. more imperfect tech.

(. I've never used this QR stuff, myself. )

 

[mullokintyre]

quishing. .. more imperfect tech.

(. I've never used this QR stuff, myself. )

With my severe dyslexia, I initially read that as queefing ...
Mick

 

[JohnDe]

 

[Value Hunter]

Surprisingly no one stole anything.
Sit across the street with your 100x zoom camera on the door till you get a code. Grab all the meat and exit before cops turn up.

Sure it can work in towns/regional areas. But I don't think it would work in any major city in the world unless in Japan (due to the culture) or China (due to the complete police state).

 

[moXJO]

View attachment 185648

Banks will probably charge for accepting cash now

 

[farmerge]

I had to send She Who is Never Wrong to Midland today to purchase some gear for the farm.
I was not well enough to go.
Elders was the joint that had what we needed.
She paid by card and bugga me it there isn't a charge of GST on the Credit Card Fee.
That's the last time Elders will see us darken their doorway.
The other two rural outlets we patronise, Nutrien and The farm Shop certainly don't charge, plus i get a Contractors discount from both..

 

[Value Collector]

Banks will probably charge for accepting cash now

well there was negative interest rates for a while in some places.

 

[bux2000]

I am surprised this article came from the BBC website

"Repetition makes a fact seem more true, regardless of whether it is or not. Understanding this effect can help you avoid falling for propaganda, says psychologist Tom Stafford."

How liars create the ‘illusion of truth’

Repetition makes a fact seem more true, regardless of whether it is or not. Understanding the "illusion of truth" effect can help you avoid falling victim to this trick.

www.bbc.com

All the best
bux

 

[Jeda]

I am surprised this article came from the BBC website

"Repetition makes a fact seem more true, regardless of whether it is or not. Understanding this effect can help you avoid falling for propaganda, says psychologist Tom Stafford."

How liars create the ‘illusion of truth’

Repetition makes a fact seem more true, regardless of whether it is or not. Understanding the "illusion of truth" effect can help you avoid falling victim to this trick.

www.bbc.com

All the best
bux

It’s not a lie if you believe it

 

[finicky]

Australian cash withdrawals spike but what does it mean for the future of notes and coins?​

The new data comes as debate rages over surcharges on digital transactions.
New data from the Reserve Bank this week suggests physical currency could be making a comeback.

The number of withdrawals from ATMs in Australia jumped 2.7 per cent between July (28,671,000 transactions) and August (29,438,600).

In 2017, Australia had close to 14,000 bank-owned ATMs but by mid-2023 that had been trimmed to about 5700. And more have been cut since then.

Continues ...

Future of cash in the spotlight as latest ATM withdrawal numbers revealed

The new data comes as debate rages over surcharges on digital transactions.

7news.com.au

 

[JohnDe]

View attachment 185648

The government is coming out with all gun's firing on hidden card fees. People that think debit cards are fee free might want to have a closer look.

The legislation was designed to wean customers off once-popular but high fee credit cards and onto cheaper options like Eftpos in the 1990s. However, it has failed to keep up with industry changes, which has seen a shift to debit cards, which are often used for tap-and-go payments using phones.​

​

Some of those cardholders are now being hit with surcharges under so-called blended pricing plans that have become common in the market.​

​

Under blended pricing plans, retailers pay the same fee to the bank supplying their terminal, regardless of the card the customer uses. If debit surcharges are banned, merchants will only be able to surcharge credit cards – forcing banks to unwind those plans, to ensure debit is free.​

​

The government response this week comes after Labor MP Jerome Laxale led the attack on hidden transaction fees from Canberra, describing surcharges as “kickbacks” and a “rort”, and calling for a free options digital payment option to pay for essential goods and services.​

​

During the parliamentary hearings, his position on this drew a rebuke from Commonwealth Bank chief executive Matt Comyn, who accused policymakers of using payment costs to engage in populist politics and declaring the bank’s payment operations actually made a loss.​

​

As part of a series of moves to target credit card companies and major bank payment costs, Treasury is also understood to be considering whether it should be made mandatory for some essential businesses, such as supermarkets and petrol stations, to accept cash.​

​

During its review, the RBA will consider other payment policies, including whether fixed, blended and bundled pricing should be banned alongside surcharging; and whether debit fees should be harmonised across all payment types. When the RBA last reviewed the system in 2021, it found “the current surcharging regime for card payments remains appropriate”.​

​

About half of a surcharge is paid to the bank that has supplied the payment terminal, while 30 per cent is shared between the bank that issues the credit or debit card, and the remaining 20 per cent goes to Visa, Mastercard or any other electronic transfer provider facilitating the payment.​

​

“The surcharges pile up and punch a big hole in the wallets of customers and the takings of small businesses owners,” Financial Services Minister Stephen Jones said on Monday night.​

Labor to ban debit card payment surcharges

The Albanese government is attempting to ease financial pressure on families ahead of a federal election next year. But the change could hurt small businesses.

www.afr.com

 

[Dona Ferentes]

“With the volume we do, we are paying more than $10 million a year to the card companies for the privilege of them doing the transactions for us. Even though we don’t surcharge, we have to cover the cost – so that is built into the margin that we charge.”
- Jack Gance, Chairman, Chemist Warehouse

“Consumers shouldn’t be punished for using cards or digital payments, and at the same time, small businesses shouldn’t have to pay hefty fees just to get paid themselves,”
- Treasurer Jim Chalmers


“We are supportive of a ban on debit card surcharges but only if there is reform that effectively eliminates the current massive gap between what large and small business are paying,”
- Theo Foukkare, CEO, Australian Association of Convenience Stores​

 

[JohnDe]

The wonderful things to look forward to in a cashless society -


Customers fume as Commonwealth Bank ‘urgently’ grapples with major glitch

Commonwealth Bank is working to reverse a major error as a “matter of urgency” after customers complained their money had been “stolen”.
Hundreds of customers were reporting a breakdown in services on Saturday morning with transactions reportedly being duplicated.

In a statement, the big four bank said it was aware ”some customers are seeing duplicate transactions from payments”.

“We are working to reverse these transactions as a matter of urgency and any fees charged will be refunded,” a spokesperson said.

“We’re sorry for the inconvenience. Thanks for being patient with us.”


A major glitch has hit banking giant Commonwealth Bank with customers complaining their money is being “stolen”.. Picture: NCA NewsWire / Luis Enrique Ascui

Social media was flooded with messages from outraged customers who reported duplicate transactions being processed.

“Nah, CommBank you cannot be stealing my money on stray kids day,” one user said.

Another added: “Just take all my money with no apologies.

“How long will it take until this duplication problem is fixed.”

“CommBank need to take ownership for this widespread duplication glitch affecting hundreds of customers this mornings” one person said.

“No assistance at all as contact numbers are all down and AI chatbot is not working.


A message received by customers concerning the outage.

“Heaps of us are in negative funds because of this”.

Other customers reported being unable to speak to anyone at the bank and that the CommBank app assistant was also unavailable.

“You have overdrawn my account leaving me and my family stranded this weekend. I want answers,” one customer said.

Taking to Instagram, TV host Jacqui Falgate said she had been on hold with the bank for more than an hour.

“CommBank had a system update between midnight and 4am, and they have processed duplicate transactions from a few days ago,” she said.

“I have been on hold to them for over an hour now to speak to someone with no luck.

“They have sent my transactional account into debit and the only way I can access my money is if I transfer the debit account and pay the rears balance.

“I refuse to do that because getting it back from them will be a nightmare”.

Reports of the outage peaked at about 9.30am on Saturday according to website Down Detector.

More than 870 people reported issues with the bank’s services at that time, with reports falling dramatically by 10am.

It comes after Westpac and its subsidiaries grappled with multiple outages in recent days.

Millions of customers were affected by outages which blocked customers from its mobile app and online services for hours for four days from Monday.

Some customers reported online not being able to access their accounts for multiple days.

 

[farmerge]

The wonderful things to look forward to in a cashless society -


Customers fume as Commonwealth Bank ‘urgently’ grapples with major glitch

Easy money for the thieving bank.
Are they going to interest on what was taken?????

 

[qldfrog]

Easy money for the thieving bank.
Are they going to interest on what was taken?????

An interesting point here in France,: no card payment surcharge i have seen, but payment by card is only above a given amount:$5 to 20$.

 

[Value Collector]

An interesting point here in France,: no card payment surcharge i have seen, but payment by card is only above a given amount:$5 to 20$.

I am in France at the moment, day 7 and still haven’t used cash, bought quite a few things under 5 euro, and no one has said anything yet.

 

[divs4ever]

meanwhile in my patch of rural Queensland , we had a blackout for about 3 hours ... but that was before the pub opened so business transactions were little affected

could have been worse

 

[farmerge]

meanwhile in my patch of rural Queensland , we had a blackout for about 3 hours ... but that was before the pub opened so business transactions were little affected

could have been worse

Shock, horror, the publican could have become quite distraught if the opening bell was rung and no one could pay for the drinks. Of course if cash was in the pocket, then no problem.