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Challenges to a ‘cashless’ world
BBC News
Friday, February 13, 2009
The global credit crunch has delayed the shift from payments being made by mobiles instead of dollars or pounds, according to technology experts.
Some believe it will be three to five years before money goes out of fashion and a truly cashless society emerges.
Experts in the Silicon Valley say many hurdles still need to be cleared to move the system into the mainstream.
These include technology challenges as well as high up-front costs, security and enough of the right type of phone.
(ARTICLE CONTINUES BELOW)
“There are a series of hurdles to overcome before the reality of contactless payments happens,” said David Robertson of the Nilson Report, a journal covering payments issues.
Niche market
“The technology is there although when you think about having a chip in a phone to make contactless payments at the point of sale by waving your phone across a reader, there are only 10% of the handsets in the world that can do that.
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February 13th, 2009 at 12:08 pm
What are you talking about? You obviously haven’t been downtown EVER now have you?
Why do you think check cashing businesses are around? THINK REAL HARD ON THAT.
February 13th, 2009 at 12:11 pm
Please go to downtown Bridgeport and look around. Check cashing places exist for a reason. Cash is not going to go away.
February 13th, 2009 at 12:12 pm
Sorry if I submit this so many times because nothing appears.
Please go to downtown Bridgeport and look around. Cash is here to stay.
February 13th, 2009 at 6:44 pm
Serf, the article states that a cashless system has been delayed by the global financial crisis and may be as much as 3 to 5 years away. In the meantime, the check cashing business’ are not going to go away. The fact that you have to post your observation three times, and with such folly conviction really does not bode well for you buddy. Take a minute to think a bit about that.
February 13th, 2009 at 11:34 pm
and what happens when you drop your phone in water?
Theywontchipme Reply:
February 14th, 2009 at 12:10 pm
you go to jail for eternity
February 14th, 2009 at 3:17 am
RE: why are there so many check cashing places then????
answer: because they give Pay Day Loans which consume your freedom inexchange for slavery; such as, getting a loan because the paycheck cannot cover lifes cost to live in america.
its a no brainer.
February 14th, 2009 at 9:01 am
when is a 1 a ONE and a TWO a 2, and a Quarter a quarter – make it so and all the problems of the cash society will go away… If one continues to compare and rate up/down ones own currency compared to another then that’s when an economy will crash….
To be – A dolalr is A DOLLAR not A Quarter in A Dollars Clothes – in other worlds – a one is a one, a two is a two and a five is five, et… no more and no less….
n/a Reply:
February 14th, 2009 at 9:02 am
“To be – A dolalr” typo = “To ME – A dollar”
February 14th, 2009 at 9:40 am
Mark of the Beast will be rolled out and marketed first as voluntary as credit cards, once the “right” people & a percentage of the mass is on board, the religion of the anti-christ makes it mandatory.
February 14th, 2009 at 8:06 pm
Yep, pitofdoom, you’re spot-on there, I think. I thought the same thing, too.