Cashless society

[moXJO]

Tapping is the greatest invention to get consumers to spend I have ever seen. So much so that 95% of my purchasing is done through cash.
I like it when people tap with their card in business because they never pay attention to how much they spend. It's easy to upsell or sell additional products.

It's definitely a thing. There's a reason why business groups want cash gone.

 

[JohnDe]

Tapping is the greatest invention to get consumers to spend I have ever seen. So much so that 95% of my purchasing is done through cash.
I like it when people tap with their card in business because they never pay attention to how much they spend. It's easy to upsell or sell additional products.

It's definitely a thing. There's a reason why business groups want cash gone.

It's true, I find the same thing. People hardly look at the figure on the screen, they happily talk while they tap and go. Much easier getting payment these days than it was of old, when people reluctantly handed over cash because it felt more real.

 

[mullokintyre]

I was reading some of the posts on this thread and the thread was not making sense. (Again).
After a while it came to me that I was not seeing some posts and assumed that I must have been blocked.
Sure enough, by opening up the ASF URL without logging on, I could see that @Value Collector must have blocked me for some misdeed.
I cried myself to sleep but got over it pretty quickly.
Mick

 

[JohnDe]

I was reading some of the posts on this thread and the thread was not making sense. (Again).
After a while it came to me that I was not seeing some posts and assumed that I must have been blocked.
Sure enough, by opening up the ASF URL without logging on, I could see that @Value Collector must have blocked me for some misdeed.
I cried myself to sleep but got over it pretty quickly.
Mick

VC acts like a spoilt teenager that doesn't like it when an experienced adult may have the correct facts over his.

He put me on the ignore list ages ago after I proved him wrong, and he couldn't handle it. Not long ago he unbanned me, without the courtesy of an explanation. I have never banned anyone, but I figure that if someone is going to be like VC, add and remove from the ignore list at a whim, I don't want anything to do with them. He is the only user on my ignore list. If he ever makes contact with a reasonable explanation I may remove him.

 

[Dona Ferentes]

here you go, Chasps.

another lobby group

basically they reckon they're getting shafted, paying more fees than "economy of scale" outfits

Independent Payments Forum - Independent Payments Forum

Independent Payments Forum We aim to affect real change in the payments system by listening, working with and representing businesses and their customers. Our mission is to amplify the voices in payments that go unheard. The IPF Team As an independent payments forum with professionals not tied...

ipforum.com.au

 

[Value Collector]

Wow I just learnt something that I didn't realise.
By using cash you have control on how much you spend.
This was ingrained into me so, so long ago that I can't remember that far back.
Hark, cash is King;, long live this King.

Isn’t that the same with a debit card?

 

[Value Collector]

I was reading some of the posts on this thread and the thread was not making sense. (Again).
After a while it came to me that I was not seeing some posts and assumed that I must have been blocked.
Sure enough, by opening up the ASF URL without logging on, I could see that @Value Collector must have blocked me for some misdeed.
I cried myself to sleep but got over it pretty quickly.
Mick

Yeah I blocked you because you mentioned my posts were upsetting you in post #1562 because they weren’t as strictly on topic as you like, so by blocking you I freed you from the burden of having to see them.

I have unblocked you for now, but I don’t want to raise you blood pressure to much, so it might just be easier for you to block me if you find my posts triggering. Otherwise if you just whine about it I will block you, for your own health

 

[farmerge]

VC acts like a spoilt teenager that doesn't like it when an experienced adult may have the correct facts over his.

He put me on the ignore list ages ago after I proved him wrong, and he couldn't handle it. Not long ago he unbanned me, without the courtesy of an explanation. I have never banned anyone, but I figure that if someone is going to be like VC, add and remove from the ignore list at a whim, I don't want anything to do with them. He is the only user on my ignore list. If he ever makes contact with a reasonable explanation I may remove him.

Isn’t that the same with a debit card?

Wouldn't know as I am not a fan of cards. We only use our credit card only as a back stop.

 

[Value Collector]

Wouldn't know as I am not a fan of cards. We only use our credit card only as a back stop.

A debit card works in all the same places globally as a credit card, except the money just comes out of your savings account, instead of creating a debt that needs to be paid off.

and you can keep tabs of your account balance on your phone, using the app so you know how much spending money you have just like checking how much cash you have in your wallet.

 

[JohnDe]

Another study, cash can help people with mental health issues.

We learnt that a substantial minority still prefer to use cash to make their purchases, largely due to the help with budgeting, managing spending and the security that cash gives them. In particular, we heard how cash can be an important asset during periods of poor mental health. For example, someone can give cash to friends or family to help with shopping at times when they are too unwell to leave the house.​

Cash is less stressful and helps control impulsive purchases.

“It’s too easy to tap the card and not remember how much you have spent. I can limit how much money I take with me with cash so impulse spending risks are lessened.” ​

“Cash or card?” How do mental health problems impact how we spend money?

Is cash still king? With the advent of online banking, payment cards and contactless, cash transactions seem to be becoming a rarity. Given the many “we’re cashless” stickers popping up in restaurant windows it can feel like cash has disappeared altogether.

However, it seems the use of cash is on the rise during the cost of living crisis, as people turn to coins and notes to help with budgeting in these trying times. The government also recently announced that free access to cash will be protected.

To understand why people with mental health problems might prefer to use cash, and why cash use may be on the rise given the psychological impact of the cost of living crisis, we turned to our Research Community for their insights. We also wanted to know if anything had changed since we last asked them about cash in 2020.

The Research Community’s role​

To anyone new to the work of Money and Mental Health, everything we do stems from the insight of our Research Community – a group of around 5,000 people who are experts by experience when it comes to financial difficulties and mental health problems.

In consulting our Community for their experiences and opinions, we hope to bring about the most impactful changes to the lives of our members and the wider population of people with mental health problems.

We learnt that a substantial minority still prefer to use cash to make their purchases, largely due to the help with budgeting, managing spending and the security that cash gives them. In particular, we heard how cash can be an important asset during periods of poor mental health. For example, someone can give cash to friends or family to help with shopping at times when they are too unwell to leave the house.

“Contactless and card payments are stressful, e.g. card gets refused, transaction fails, card gets hacked or put through twice by server! Cash is easier, no risk of hacking, cloning, rejection. Card can be stressful or anxiety inducing when things go wrong” Expert by experience

Members who largely use cash provided us with a more in-depth and nuanced understanding of why they prefer it over cards and online banking. Their reasons ranged from being able to better control spending when in the midst of a mental health crisis, to having something to physically keep track of spending.

Perhaps unsurprisingly, non-cash payments were felt to have the opposite effect, such as facilitating impulsive spending or not feeling ‘real’. We also heard about the difficulties people face when trying to use online and mobile banking, like complex log-in processes.

“It’s too easy to tap the card and not remember how much you have spent. I can limit how much money I take with me with cash so impulse spending risks are lessened.” Expert by experience

“The log in [process] is a headache and I can’t be bothered with trying and failing so many times before getting in.” Expert by experience

What can be done​

For some, online banking and card or contactless transactions made managing their finances and budgets overwhelming when unwell. But many still recognise the good they can do. If financial services providers could create tools to help manage spending during periods of poor mental health – alongside ongoing and continued support from banking staff – our members felt that their payment needs might be better met.

By approaching banking with personalised support at the forefront, financial services providers would be able to go a long way in helping our Research Community members, and those of us with mental health problems more widely, feel more confident in using their products and services.

Firms must support, listen and respond to people living with mental health problems engaging with their services. Whether you prefer cash or card, that could help to reduce the stress that can come with managing money alongside a mental health problem.

If you’d like to give your insight to us about your experiences of financial difficulty and mental health we’d love to hear from you.

 

[Dona Ferentes]

I was browsing in a secondhand book shop, and found these, 4 × $50, good condition but not mint, inside a yellowing, published 1984, book.

View attachment 173343
They feel genuine, watermarks, the thread, etc, ... local shop wouldn't take them, though. Any ideas?

post #1254....

and an update .. today $200 has appeared in my nominated bank account..

Took a while. I can only assume that , as it occurred on the day the RBA held rates steady and after yesterday's board meeting, the good Governor finally got to sign off on it.

(hint to anyone wishing to maintain their sanity; don't trawl back through the multiple pages of tedium and prolixity )

 

[finicky]

A reflection of what they will probably do to all of us when they get to their 100% digital payment goal.

 

[wayneL]

A reflection of what they will probably do to all of us when they get to their 100% digital payment goal.

Yep, it's how it's going to be.

At this point in time I can see myself in a standoff in homemade armour over exceeding my CO2 allowance...

... muttering "such is life".

 

[Value Collector]

A reflection of what they will probably do to all of us when they get to their 100% digital payment goal.

Is that really the fault of the digital system, or is it his fault for breaking his parole.

That would be like this Dummy blaming camera phones for being caught driving without a licence. hahahaha

 

[finicky]

^^^
How obtuse

 

[moXJO]

Is that really the fault of the digital system, or is it his fault for breaking his parole.

That would be like this Dummy blaming camera phones for being caught driving without a licence. hahahaha

I don't want that level of government oversight regardless

 

[farmerge]

Yep, it's how it's going to be.

At this point in time I can see myself in a standoff in homemade armour over exceeding my CO2 allowance...

... muttering "such is life".

@wayneL and I shall be standing alongside waving my wet train ticket in a threatening manner.

 

[farmerge]

^^^
How obtuse

View attachment 178950

Poot girl appears to be suffering some sort of discomfort.

 

[Value Collector]

I don't want that level of government oversight regardless

It’s oversight of criminals that are on parole, that’s a good thing isn’t it?

I mean they put ankle bracelets on some of them, surely you are not against that.

The person in question did have the option of just staying in jail, but they agreed to the terms of parole willingly to avoid jail, and then willingly broke them… Dummy in my opinion.

 

[wayneL]

^^^
How obtuse

View attachment 178950