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Cashless society

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Light at the end of the tunnel


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.
 
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
 
moXJO said:
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.
Click to expand...
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).
 
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..
 
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

 

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 said:
View attachment 185648


Click to expand...

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


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



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