Cashless society -> digital money -> microchip humans

[TonyGosling]

Book: The War Against Cash, the plot to empty your wallet & own your financial future, Ross Clarke
[youtube]http://www.youtube.com/watch?v=gsUhl_fp31o[/youtube]
https://www.youtube.com/watch?v=gsUhl_fp31o

We are constantly being told that we are on the cusp of a
cashless society. The financial services industry would
certainly like to see it that way. We are being enticed with
contactless cards, mobile phone payment apps, and methods
of bank transfer: all, apparently, for our convenience.
But as Ross Clark argues in this compelling new book, it is
not in our interests to surrender the right to use cash.
Commercial interests want us to pay electronically in order
to collect valuable data on our spending habits, while
governments would love us to move to cashless payments in
order to control the economy in ways which suit them, not
us.
If we choose to pay electronically, that is one thing, but we
will regret it if we do not defend the right to pay with cash.

Ross Clark - Tony Gosling
www.dialectradio.co.uk - 29 November 2017

[Whitehall_Bin_Men]

New "Biometric" Bank Cards With Fingerprint Scanning To Replace Chip & Pin - What Could Go Wrong?
June 21, 2018/ Richie Allen
https://www.richieallen.co.uk/new-biome ... -go-wrong/

A massive digital security firm, that is behind the introduction of biometric banking (fingerprint payments), is about to be taken over by one of the worlds largest defence contractors. It is a huge story and yet nobody is talking about it. Aerospace & defence giant Thales has bid for cyber-security pioneer Gemalto. The deal will be approved next month. It is astonishing that there is no opposition to this and that the media is silent. First a word on the roll-out of biometric banking and what it means.

I've talked about the cashless society agenda on The Richie Allen Show this week. The implications of it are terrifying. Paying with cash has been overtaken by credit/debit card payments with increasing numbers of people going contactless and tapping the card on the shops machine, rather than inserting it and entering their pin. But chip & pin/contactless will soon be phased out with banks planning to introduce biometric cards, which will enable the user to buy goods using their fingerprints, like Apple's Touch ID for the iPhone.

You would simply pop round to your bank and register your fingerprint on an Apple iPad. The bank would then register your fingerprint to your card. It is claimed that it would only be stored on the card, and not on a central database. Pull the other one eh?!? So when paying in a shop, you'd be able to place your fingerprint on your card, verify your identity, and the payment would go through. Why is it necessary at all? Why to prevent fraud of course you dummy! This Dystopian anti-privacy * is always sold using the same methods. It's for your safety and to prevent fraud right? Wrong!

Digital security firm Gemalto is behind the technology. The firms major shareholders include Morgan Stanley, Goldman Sachs and BlackRock. 100,000 Pfizer employees use Gemalto smart cards as ID badges. The company has provided e-driver licenses for Mexico and Sweden and e-ID citizen cards for Portugal. This is where it gets very sinister. French aerospace and defence group Thales has bid €4.8 billion for Gemalto. The EU has said that it will make a decision on whether or not the acquisition can go ahead by July 23rd. There's absolutely no doubt that the takeover will be approved.

What could go wrong eh? I mean there's nothing to worry about right? It's perfectly OK for a massive digital security firm that is rolling out biometric bank cards with fingerprint scanners, to be taken over by one of the worlds largest defence contractors right? Thales has operations in more than 56 countries. It has 64,000 employees and generated €14.9 billion in revenues in 2016. It is also the 10th largest defence contractor in the world. It has a very chequered past.The company has been found guilty of running slush funds to bribe officials and was blacklisted by the World Bank because of its FRAUDULENT practices. Hmmm......fraud. A defence contractor with a history of fraud, will soon own the digital security firm that has developed biometric bank cards to prevent fraud and will own your biometric data....need I say any more?

And where is the media? Why absent of course, but then what's new? The UK's Mirror and Sun tabloids are today extolling the benefits of biometric banking, while deliberately ignoring the very relevant issues of a) the companies who currently have shares in Gemalto and b) the sordid past of the defence contractor which will soon own it all! I'm on my own here, I've no researchers or editors and yet I was able to find this stuff out in just a few minutes. Welcome to Planet Dystopia folks.

Click HERE to discuss or comment on this post in our forums.


Richie Allen
Richie is the host of The Richie Allen Show and has enjoyed a long, and varied, broadcasting career.

http://www.richieallen.co.uk

[TonyGosling]

FinTech - Brett Scott - Who Is Driving Cashless Society?
[youtube]http://www.youtube.com/watch?v=aNvYwP0j-kY[/youtube]
https://www.youtube.com/watch?v=aNvYwP0j-kY
'There is a chronic problem in technology ethics right now. There's no economic incentives for people to ever tell you what the implications of the technology are.'
Brett Scott, financial activist and author of The Heretic's Guide to Global Finance, talks to Real Media about the push towards a cashless society - who's driving it, what are their motives, and the politics at work.

[TonyGosling]

Cashless after Covid-19?
https://www.euromoney.com/article/b1l0f ... r-covid-19

By: Kanika Saigal Published on: Thursday, April 02, 2020 The number of cashless transactions is rising as the coronavirus pandemic limits the use of physical cash. Order Kanika Saigal payments_780 Covid19_shutterstock-600x150 Read all

Euromoney coronavirus coverage

When the World Health Organization released a statement on March 9 recommending that people turn to cashless transactions to fight the spread of Covid-19, a number of governments and retailers across the world took action. In China, thousands of banknotes were destroyed or disinfected to eliminate the spread of the virus.

South Korea followed suit, and in the US, the Federal Reserve has started storing banknotes that have come in from Asia before recirculating them back into the economy. Canadians, however, have taken a different approach. Rumours persist that some people have been shoving banknotes into washing machines to rid them of the virus – taking advantage of the fact that their ‘paper’ money is made of plastic. This takes money laundering to a whole new level.

Some retailers have banned the use of cash in their stores to keep employees and customers safe, opting for contactless payments instead. Meanwhile, for those confined to their homes, online shopping is a lifeline. Even the most unwilling are keen to adapt. Manish Kohli, head of cash management at Citi, says from his home office in New York that even his wife –previously hostile to mobile money – has started to use Venmo to transfer funds to members of the community who have been braving the streets to get goods for others in need.

"People are adapting to the new normal," he says. Necessity over convenience Digital payments, once born out of convenience, have become a necessity for some. Yes, there might still be a number of people who hoard cash – as is often the case in times of crisis – but others will cease to see the point if they are not able to use physical money to buy essential goods and services.

Luckily, we live in a time where much of the infrastructure required to complete an online purchase is already in place. This may not have been possible even ten years ago. Cash managers and payments experts agree that payment volumes will be down across the board. But they also agree that the number of digital transactions relative to physical cash transactions will soar as more and more countries go into lockdown. Santosh Tripathy 160x186 Santosh Tripathy, SmartStream "It is probably too early for the data to tell us this, but most of us in the payments space are certain that this is the case," says Santosh Tripathy, practice lead, digital payments with financial transaction management company SmartStream Technologies.

"In this environment, cash is losing its shine," he says. This could be the push needed for some countries to become truly cashless. "It's no longer inconceivable for entire countries to run on digital cash – we are already seeing this play out," says Victor Penna, global head of treasury solutions at Standard Chartered. "Most people have access to a mobile phone – which can also act as a digital wallet – and a number of central banks are thinking about introducing digital currencies. This is how we can boost financial inclusion and support the most vulnerable in society." "One good thing to come out of this crisis is that I think more and more economies will start going cashless," says Kohli. Benefits and challenges There are plenty of benefits to going cashless: digital payments are convenient and – in current circumstances – are increasingly necessary. More importantly, however, they are a lot cheaper to process than their cash equivalents. Take one example: In India, 1.7% of GDP – or $210 billion – is spent on printing, storing and distributing cash. If all payments were digital, Tripathy argues that the cost would be a fraction of this. There is also the argument that digital offerings will boost financial inclusion, as more and more individuals are able to open bank accounts online and transact digitally without ever having to enter a physical bank branch – difficult at times like this in most developed economies, almost impossible for rural populations in emerging markets that live far from their nearest town or city. But the transition from cash to cashless isn’t all that straightforward. Online payments may seem easy enough, but there still remains a lack of standardization in the system that delays payments and creates bottlenecks.

For example, real-time payments within the UK are a reality, but challenge your bank to make an instant payment to a recipient in India or Brazil, for instance, and delays are inevitable. If any one country was to move entirely towards digital payments, bank liquidity would be essential because people and businesses need to have confidence in the banking sector - Santosh Tripathy, SmartStream Fintechs such as Transferwise, WorldRemit and Revolut have plugged some of the gaps, but this often means that an individual may have a number of different accounts with a number of different payment providers and banks – which arguably removes the convenience that digital payments offered in the first place. Moreover, capacity is often limited and large transactions by multinational corporates still require strict due diligence and bank support for completion. Until application programming interfaces are much more commonly used, the fragmentation in the payments space will be another barrier to fully cashless societies. In addition – and perhaps most importantly within the current context – bank liquidity will be essential to the success of implementing and maintaining a cashless society. "If any one country was to move entirely towards digital payments, bank liquidity would be essential because people and businesses need to have confidence in the banking sector," says Tripathy. "A cashless society would mean that, hopefully, there wouldn't be a run on the banks, but individuals still want to be confident in the fact that if they wanted to withdraw their money from their accounts, they could," he says. Liquidity is essential for people to remain confident in the whole financial system. Following the global financial crisis, banks' financial buffers have become much more robust, but liquidity may soon dwindle as banks introduce a number of measures to prop up corporate clients and the economy, including emergency funding for repo markets, debt restructuring, mortgage holidays, new credit lines, huge credit drawdowns and more. This is the paradox we face right now: while a viral pandemic is conducive to the establishment of cashless societies, the pressure on banks is not.

Full article: https://www.euromoney.com/article/b1l0f ... tInfo=true
Visit http://www.euromoney.com/reprints for additional distribution rights. For more articles like this, follow us @euromoney on Twitter.

[TonyGosling]

Rosabel Portela Barrios
·
Give you something to think about.
https://www.facebook.com/Rosabel.P.B/po ... ikanpatUBl

Why should we pay cash everywhere with banknotes instead of a card ?
- I have a £50 banknote in my pocket. Going to a restaurant and paying for dinner with it. The restaurant owner then uses the note to pay for the laundry. The laundry owner then uses the note to pay the barber. The barber will then use the note for shopping. After an unlimited number of payments, it will still remain a £50, which has fulfilled its purpose to everyone who used it for payment and the bank has jumped dry from every cash payment transaction made..
- But if I come to a restaurant and pay for digitally - Card, bank fees for my payment transaction charged to the seller are 3%, so around £1.50 and so will the fee £1.50 for each further payment transaction or owner re laundry or payments of the owner of the laundry shop, or payments of the barber etc..... Therefore, after 30 transactions, the initial £50 will remain only £5 and the remaining £45 became the property of the bank thanks to all digital transactions and fees.

PS: it’s now 4 months since I used my card and I love it. More human interactions, more questions, more conversations about why cash needs to be everyone’s priority. No one needs to know where I shop, how much I spend and what I buy . I am not okay with a digital currency - no way #CashIsKing #Cash #smallbusinesssupport #think #interact #keepcashalive

[Whitehall_Bin_Men]

Remember Rev. John Papworth?
Did you know him?
This sort of pro-Palestine ordained Anglican has been hunted to extinction
Call XR! https://youtu.be/1eTcJpxV1M8

The independent no longer carries our headline story!
Replaced by some Orwellian sport tosh
Only alternative media have kept it online
How and why did hackers or the indie remove it though
more importantly - why?

Card-carrying shoppers go cash-free for a day
Notes and coins are out as an upmarket area of Manchester tests how viable the cashless society really is
http://www.theguardian.com/money/2014/j ... h-free-day

Jill Papworth and Rupert Jones The Guardian, Saturday 21 June 2014

Shoppers will today be able to get a glimpse of a future without notes and coins by visiting what's claimed to be the first ever UK street to go "cashless" for a day.All 32 businesses in Beech Road, Chorlton, will be attempting – as far as possible – to trade without cash and accept only card payments.

The experiment taking place in the leafy south Manchester suburb is a joint venture between the local traders' association and a card payment company, and is designed to test the claims made by some pundits that most shoppers are now so used to paying for everything by card that they would welcome a cash-free society.

Articles proclaiming "the death of cash" have, of course, been appearing for years, but perhaps things really are changing. Earlier this month the UK Cards Association revealed that three-quarters of all retail spending is now by debit or credit card – up from less than half a decade ago – while the British Retail Consortium said customers "are using less cash than ever".

Millions of us now carry contactless debit and credit cards and this technology will receive a major boost when all London buses controversially go cash-free on 6 July. Meanwhile, the major high street banks have just launched Paym, which enables you to pay the window cleaner or give back the £10 you borrowed from a workmate at lunchtime, simply by pressing a few buttons on your mobile phone. Other hi-tech systems are also being rolled out, and then there is the rapid growth of virtual currencies such as bitcoin.

Against this backdrop, it will be interesting to see how the traders of Beech Road – in an affluent neighbourhood renowned for its alternative "vibe" and high proportion of independent shops (and Guardian readers) – get on with encouraging their customers to forgo cash and pay only with cards on what is traditionally one of the busiest days in the local calendar.

Businesses taking part in the experiment range from newsagents, bakeries and delis to cafes, restaurants and pubs.

Patrick Hall, proprietor of The Laundrette, a pizza restaurant and cocktail bar, is aiming to go completely cashless for a day, apart from tips to serving staff.

"On a normal weekend around 70% of payments are by card and 30% by cash, but we are going to encourage all our customers to enter the spirit of the day and pay by card, and I don't envisage having too many problems," he says. "We are increasingly in a world where cash is disappearing, and this is a chance to prepare ourselves for that. The big chains automatically offer customers several ways to pay and some small independents can lag behind."

Hall offers both chip and pin and the newer contactless card payment systems, the latter for transactions under £20. But, unlike some small independent retailers, he does not insist on a minimum amount if paying with plastic, so customers can pay for just a coffee, for example, by card.

However, when Guardian Money chatted to some of the other retailers, it soon became clear that claims in the advance publicity that would see notes and coins banished completely for a day were simply unrealistic – which perhaps suggests that cash won't be going gently into that good night any time soon.

Sarah Raine, manager of Epicerie Ludo, an independent deli, wine merchant and grocery store, says: "Given that we bake bread and pastries and sell a lot of individual items with a low transaction value, and given that we have a minimum value of £5 to pay by card, I don't think it will be possible to go completely cashless – but I am going to promote card payments as much as possible."

She adds: "On a typical Saturday, value-wise 65% of transactions are by card, but by number of transactions, 63% are in cash. I'm interested to see if this will shift if we encourage people to use cards, and whether people spend more when using a card – it could be the case. Already, I notice that if someone wants to buy £4.50 worth of items, they will often buy something extra to take it over the minimum £5 limit so they can pay by card."

You would imagine that going plastic-only would present particular problems for newsagents, whose customers include lots of children buying sweets who are too young for payment cards, and some technology-resistent pensioners picking up their morning paper or pint of milk. Craig Etchells at Beech Road newsagent C & W Etchells says if someone doesn't want to pay by card, or is unable to, they will of course be able to pay with cash – "you're not going to turn trade away" – though he will be trying to encourage people to use plastic.

"About £7 seems to be the turning point from where someone switches from paying cash to paying with a card," he says. "Up to a fiver, it's generally cash. Over £10, nine in 10 transactions are probably with a card." His shop typically imposes a 30p surcharge if someone spends less than £6 and pays with a card, though this is being waived for the day.

Mark Latham at card payment provider Handepay says Britain is at the forefront of countries heading towards becoming cashless, "because the public are always eager to embrace new technology". He adds: "There is now an expectation that card payment is available everywhere – it takes us aback as consumers if it isn't."

But not everyone is embracing this revolution: earlier this month a survey found that more than a third of consumers (38%) avoid contactless payment methods because they don't know enough about the technology and are "worried about security". The poll by Vista Retail Support also found that a further 24% of people don't use the technology because they do not know which of their cards are enabled for contactless payments, or don't know how to use them.

Another of the Chorlton experiment participants, Rosa Stone, manager of the nearby Horse & Jockey pub, will be dropping the normal £10 minimum transaction limit on chip and pin card payments for the day, and encouraging customers to use cards over cash.

"I think it's a fascinating experiment," she says. "Around 60% of our customers already prefer to pay by card, typically to settle a tab they set up to pay for food and drinks during their visit. But I'm really interested to see whether the other 40% of customers react well or get annoyed when we ask them pay by card, though we will accept cash if people insist. If they just want to buy a packet of crisps for example, it would be hard to refuse a 50 pence piece."

The event's website, handepay-cashless-street.co.uk, will be regularly updated to offer visitors a live feed of trader and customer vox pops, reaction via social media, blogs and films.

Cashless society by 2012, says Visa chief

(The cashless society that David Icke has been predicting for nearly 15 years)


'Paying for goods with notes and coins could be consigned to history within five years, according to the chief executive of Visa Europe. Peter Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash. Some retailers could soon start surcharging customers if they choose to buy products with cash, because of the greater cost of processing these payments, he warned.'

Read more ...
http://news.independent.co.uk/business/ ... 347411.ece

Cashless society by 2012, says Visa chief
By Tim Webb
Published: 11 March 2007
Paying for goods with notes and coins could be consigned to history within five years, according to the chief executive of Visa Europe.

Peter Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash.

Some retailers could soon start surcharging customers if they choose to buy products with cash, because of the greater cost of processing these payments, he warned.

Visa Europe briefed the British Retail Consortium last month on new "contactless" cards that can be waved in front of a scanner to make small payments.

However, the consortium dismissed this vision and claimed that card processing fees, which regulators are investigating, are still too high.

One member of the consurtium said that the estimated "interchange" fee charged to retailers amounts to some 4p for each transaction.

Nick Mourant, treasurer at Tesco, said: "There is a duopoly between Mastercard and Visa in the UK. Their setting of fees is anti-competitive."

[dobrev34]

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