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Ready To Go Cashless? Almost Half of the West Has Gone Cashless . . .

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British People are walking away in droves from the digital offshores, like Ebay and stopping using Paypal.

They know who Soros is, and they don't want him associated with, and having shares in their online lives.

Meanwhile the Digital Delphic Oracle will give the shareholders as much good news about the digitals' stock-market value as you are willing to pay.

|t's all going to hell, and it ain't coming back till the Soros' clear off this mortal coil one way or the other. God Save the High-street shops.

He who dares wins!

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BUDGET 2018 LIVE: Hammond claims 'era of austerity is coming to an end' as he raids Amazon and Facebook with new £400m 'digital tax', pumps billions into defence and NHS and freezes duty on fuel, beer and spirits
https://dailymail.co.uk/home/index.html

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Victory Beckons   ....




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I have seen this in my city.  For basic services, the city and state government tell residents they must use credit or debit card. The excuse is that they do not trust state employees to handle cash and checks.   ???

Furthermore to access city and state services you must have an online presence.  They are closing more and more local and state offices that deal with government functions that people need.



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Re: Ready To Go Cashless? - Losing The War On Cash
« Reply #27 on: Oct 30, 2018, 05:03:57 am »
 

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Losing The War On Cash - Swedish Central Bank U-Turns On 'Cashless Society' Agenda






'Sweden’s Riksbank has become the first central bank in the 21st century to take concrete measures to ensure that cash does not disappear as a means of payment from the financial system. To that end, the Riksbank proposes, in a document published on its website, to make it mandatory for all banks and financial institutions to offer cash services.

The pronouncement comes in response to a recent policy suggestion by the Riksbank Committee that only the country’s six major banks should be obligated to continue offering cash services.

That prompted a backlash from Sweden’s competition watchdog, which argued that the plan would distort competition as it would affect only a few of the nation’s banks. In response, the Riksbank has opted to apply the rule to “all banks and other credit institutions that offer payment accounts.”


There was also a difference of opinion between the Riksbank Committee and the central bank’s senior management on the issue of deposit facilities. While the Committee recommended that banks should only be obligated to provide deposit facilities to businesses, the Riksbank believes it is important for banks to also offer deposit services to individual citizens:

“This is a service that consumers can reasonably expect of credit institutions. There must also be symmetry between withdrawal and deposit facilities. In the Riksbank’s view, there is otherwise a risk that the possibilities for individuals to make deposits will decrease even further in the future. For most consumers, it would also be difficult to understand why they can withdraw cash from an account but not make deposits.”

For years, the government and the Riksbank have been pushing for a “cashless society.” The Riksbank has over 1,000 articles posted on its website on the “cashless society“. The emphasis worked: between 2013 and 2017, the amount of cash in circulation dropped by 35%, earning Sweden a reputation as the world’s “most cashless nation”:'

Read more: Losing The War On Cash - Swedish Central Bank U-Turns On 'Cashless Society' Agenda




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Sweden Is on the Verge of Going Completely Cashless: What Could Possibly Go Wrong?
https://www.theorganicprepper.com/sweden-cashless/





Sweden is rapidly turning into a cashless society, which seems like the utopian dream of many a government figure. What could possibly go wrong from the government’s point of view? Isn’t it ideal that they could soon digitally control every single person in the country?

Actually, quite a few things are going wrong. So much so that even members of the government are expressing concern.

Sweden is the most cashless society in the world

The change is happening fast in the European country.

Quote

“No cash accepted” signs are becoming an increasingly common sight in shops and eateries across Sweden as payments go digital and mobile…

…Sweden is widely regarded as the most cashless society on the planet. Most of the country’s bank branches have stopped handling cash; many shops, museums and restaurants now only accept plastic or mobile payments…

…Last year, the amount of cash in circulation in Sweden dropped to the lowest level since 1990 and is more than 40 per cent below its 2007 peak. The declines in 2016 and 2017 were the biggest on record…

…An annual survey by Insight Intelligence released last month found that only 25 per cent of Swedes paid in cash at least once a week in 2017, down from 63 per cent just four years ago. A full 36 per cent never use cash, or just pay with it once or twice a year. (source)


Cash is used so infrequently that the government of the country has demonstrated concern. And this isn’t just in the big cities. A source in rural Sweden tells me that even in his remote area, the push to go cashless is omnipresent.'

Read more: Sweden Is on the Verge of Going Completely Cashless: What Could Possibly Go Wrong?




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The RISE Of The Cashless Society & The TRUTH About Bitcoin with Jeff Berwick

















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Re: Ready To Go Cashless? - Millions 'will suffer without cash'
« Reply #30 on: Dec 19, 2018, 05:53:05 am »
 

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BBC News
BBC.co.uk


Millions 'will suffer without cash'
http://www.bbc.co.uk/news/business-46596154





'The UK risks "sleepwalking" into becoming a cashless society with millions of people disadvantaged as a result, a study has concluded.

Banknotes and coins are a necessity for eight million people, according to the Access to Cash study.

The report, authored by ex-financial ombudsman Natalie Ceeney, said a cash-free society would create problems for those in debt or living in rural areas.

Last year, debit cards overtook cash as the UK's most popular payment method.

Cash use has halved in the past 10 years, with notes and coins now handed over in three in every 10 transactions. Cash use is forecast to halve again in the next decade.

"As cash use continues to fall, we need to safeguard the use of cash for those who need it, and at the same time work hard to ensure that everyone can participate in this digital economy," Ms Ceeney said.

Her report was paid for by cash machine network operator Link, but was independent from it.'



Read More : Millions 'will suffer without cash'



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Retailers Rejecting Customers' Cash As More Ban Paper Money
« Reply #31 on: Dec 31, 2018, 07:25:05 am »
 

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Retailers Rejecting Customers' Cash As More Ban Paper Money
https://www.zerohedge.com/news/2018-12-29/your-cash-not-welcome-more-retailers-banning-paper-money





Your cash is not wanted here", a growing number of retailers and restaurants throughout the US and UK are telling customers. But are reasons being given by companies for the new "cashless" approach — speed, efficiency, and the safety of store employees — valid enough to require something as utterly and downright unAmerican as rejecting cash?

We think not, and unfortunately the trend of "cash not welcome here" establishments is growing, to the point that lawmakers are beginning to take note and could introduce legislation barring the practice, as Massachusetts has done already, and as the New Jersey State House could be set to do next. According to a Federal Reserve survey conducted in 2017 cited in The Wall Street Journal, cash represented 30% of all transactions in America, with 55% of those being under $10.



Regardless of Americans' longtime preference for plastic in most transactions, many of which take place online, research by the Federal Reserve found that cash is still king in terms of Americans' daily lives and usage, and as the study concluded further, this remains true across all income levels:

Quote
    Not only is cash used frequently for small value and in-person purchases, it is also used by a wide array of consumers. The data on cash use by household income provides two main insights. First, consumers make—on average—14 cash transactions per month, regardless of household income. It is also noteworthy that cash was the most, or second most, used payment instrument regardless of household income, indicating that its value to consumers as a payment instrument was not limited to lower income households that may be less likely to have access to an account at a financial institution.

But this reality is now pushing up against the new trend of the cashless restaurant, bar and retailer, and creating awkward and frustrating situations for consumers, as a new Wall Street Journal piece chronicles. In one scenario, a customer had to intervene on another's behalf and play personal bank for a "card only" salon, even though there was plenty of cash on hand offered by the woman who couldn't pay.'

Read more: Retailers Rejecting Customers' Cash As More Ban Paper Money



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Nano-Chips in $50 & $100 Bills to Track Underground Economy
« Reply #32 on: Jan 04, 2019, 07:30:18 am »
 

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Australia Inserting Nano-Chips in $50 & $100 Bills to Track Underground Economy & Coming Barter System
https://www.armstrongeconomics.com/armstrongeconomics101/economics/australia-inserting-nano-chips-in-50-100-bills-to-track-underground-economy-coming-barter-system/





'While the BitCoin people have hated me for not agreeing with them that a private currency could displace the currencies of all nations and BitCoin would be the new “reserve currency” killing the dollar, to me they are in serious need of help. They have ZERO comprehension of governmental power and ZERO understanding of what is going on behind the curtain. The IMF has come out and stated that each nation should issue their own cryptocurrency and these fools cheers claiming I am not with it and do not get this new age of technology. Sorry, but these people are really clueless if not perhaps undercover people with a mission to get people willing to surrender their final liberty – paper money.

While cryptobugs advocate gold is dead and BitCoin will conquer the financial world, they miss the point entirely. The IMF is by no means embracing cryptocurrencies for the same reason these people have claimed it will bypass central banks. The IMF is advocating the end of paper money to kill the underground or black economy solely to aid the hunt for taxes and to PREVENT bank runs. If there is no paper money, how can you run to the bank in a panic demanding to withdraw your money? They also argue eliminating paper money will end crime.

Now, Michael Andrew, the man appointed by the Australian Federal government to lead the ‘Black Economy Taskforce’ at the end of 2016, is arguing for an interim-step. He believes tracking the currency denomination is the best solution in stopping the underground/black economy and grabbed taxes if you found a $50 or $100 bill on the street and failed to give the government their 50%.

Governments are going broke. They will not listen and instead, they are obsessed with just a solution for the next quarter. They lack any vision of the future and will NEVER tax responsibility for their own mismanagement. Their single solution is to always raise taxes rather than reform. The more they press toward this cashless society the greater the economic implosion. What comes after the elimination of cash and the budgets are never balanced with institution starting to shift to private assets rather than government bonds that pay nothing and present huge risks will be the default on social programs without the corresponding reduction in taxes. This all leads to the inevitable collapse of Western Society just as we witnessed the collapse of Communism in 1989.'

Read more: Australia Inserting Nano-Chips in $50 & $100 Bills to Track Underground Economy & Coming Barter System



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truepublica.org.uk
http://www.truepublica.org.uk/



MasterCard confirms significant move towards cashless society
http://truepublica.org.uk/united-kingdom/mastercard-confirms-significant-move-towards-cashless-society/





'Mastercard was originally known as “Interbank” and “Master Charge” from 1966 to 1979. It was created by several California banks as a competitor to the BankAmericard issued by Bank of America, which later became the Visa credit card issued by Visa Inc.

Prior to its initial public offering in 2006, it was a cooperative owned by the more than 25,000 financial institutions that issue its branded cards. Its latest announcement confirms a significant technical move towards cashless societies.


  • Mastercard announces name and logo change

  • Wants to be seen as a financial-tech firm instead of a credit-card network

  • Now moving over to artificial intelligence and machine learning technologies

  • MasterCard responding to a straight-line trajectory of current trends that would see an end to cash use by 2026 in Britain


Over the decades, Mastercard has kept up with technology and has had many iterations since it started trading in 1966. Skipping forward to March 2012, MasterCard announced the expansion of its mobile contactless payments program, and later in the same year, it teamed up with Apple, to incorporate a new mobile wallet feature into Apple’s new iPhone models. Spam_A Spam_B Then in August 2017, Mastercard acquired Brighterion, a Delaware Corporation headquartered in San Francisco, California that provides a portfolio of artificial intelligence and machine learning technologies.

Here is where a big change to MasterCard’s direction takes place. And others are sure to follow.

MasterCard has just announced it has just dropped the name ‘Mastercard’. It will appear only as two intersecting circles of red and yellow (as per the main article image) with orange in the middle, on payment cards and sponsorships, and in stores where the card is accepted.

People are more often than not now paying without even a physical swipe or insert, but by inserting payment details or swiping a phone. Just for a start using the word “card” might seem a bit old-fashioned in our fast-changing world.

“As the consumer and commerce landscape continues to evolve, the Mastercard Symbol represents Mastercard better than one word ever could, and the flexible modern design will allow it to work seamlessly across the digital landscape,” the company said in a press release.'



Read More : MasterCard confirms significant move towards cashless society



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http://www.theguardian.com/



Cash machine firms to be paid more in effort to stop further closures
http://www.theguardian.com/money/2019/jan/23/uk-cash-machine-operators-enhanced-payments-per-transaction-atm-closures





'Companies operating free-to-use cash machines in remote areas are to receive extra payments that could help stem the tide of ATM closures.

Under the changes, operators will receive increased payments of up to £2.75 each time someone withdraws cash from an eligible machine.

The extra financial support, paid for by Britain’s banks, is being introduced by Link, the UK’s largest cash machine network, following warnings ATM “deserts” could be created across the UK as providers shut unprofitable machines in less well-off and rural areas.

In June 2018, the consumer group Which? revealed cash machines around the UK were closing at a rate of 300 a month, with rural communities worst affected. About 1,000 ATMs will initially be eligible for the enhanced payments, with this number likely to increase, said Link.

Another benefit for consumers is that some cash machines that currently charge users to withdraw money are expected to be converted into free-to-use ones so operators can take the payments.

The move follows a row over a phased reduction in “interchange rates”, the fees card issuers, mainly banks, pay to ATM operators. In January 2018, Link announced a phased 20% cut in interchange rates over four years, from about 25p to 20p.

The cuts would have saved banks millions of pounds in charges, but after an outcry from campaigners and concerns from regulators, they were scaled back last summer.'



Read More : Cash machine firms to be paid more in effort to stop further closures



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Japan moves toward a cashless society
« Reply #35 on: Jan 24, 2019, 05:35:30 am »
 

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Calls for regulator to ensure access to cash after bank IT failures
http://www.theguardian.com/business/2019/feb/12/consumer-group-which-calls-for-cash-regulator-following-bank-it-failures


'The government is facing calls for a new regulator to protect consumers’ access to cash, following several bank IT failures and thousands of cash machine and branch closures across the UK.

The consumer group Which? said cash is still a necessity for more than 25 million people in the UK. It also noted the combined closures of cash machines and branches have left people struggling to pay for essential goods and services.

The charity is campaigning for the creation of a regulator with sole responsibility for cash infrastructure, which ensures continued access to physical money. Jenni Allen, the managing director for Which? Money, said: “We have serious concerns that the alarming rate of cashpoint and bank branch closures risks leaving people facing an uphill battle to access the cash they rely on.

“Cash is also a vital backup as fallible digital payments grow in popularity. So the government must appoint a regulator to oversee these changes and ensure no one is excluded and left struggling to go about their daily lives.”

About two-thirds of the UK’s bank branches have closed in the past 30 years. Of these, about 3,300 have shut since 2015 alone. This has left one-fifth of households more than two miles from their nearest bank.

Which? also published figures showing the UK lost nearly 3,000 cash machines in the six months to December, a rate of about 488 a month. This includes 250 free-to-use machines.

Over the whole of 2018, 102 protected machines, which receive additional subsidies from major banks to help keep them running, closed in remote areas.

Which? said that despite the rise in digital payments, there was still a “real appetite” for cash, with 73% of the population frequently using it to pay for goods and services.'



Read More : Calls for regulator to ensure access to cash after bank IT failures



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Re: Ready To Go Cashless? The town with NO free ATMs
« Reply #37 on: Feb 19, 2019, 06:08:49 am »
 

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The Daily Mail


The town with NO free ATMs: 24,000 residents of Burslem have to pay up to £3.50 every time they want cash
http://www.dailymail.co.uk/news/article-6717383/Burslems-24-000-residents-forced-pay-3-50-withdraw-money.html





'Burslem's 24,000 residents have been forced to pay up to £3.50 to withdraw their own cash after all the free-to-use bank machines in the town closed.

Locals have seen a number of bank and building society closures in the past three years, including branches of Nationwide, NatWest and Lloyds.

The only remaining cash machine in the Midlands town charges for withdrawals and others at nearby retail parks cost between 95p and £3.50 per transaction.

Residents of Burslem now say they are being 'robbed' - and the lack of free cash machines has been raised at a parliamentary debate. Phil Hardy, 53, who owns Otters Tears Beer Company claims he has been forced to use a bank in 20 miles away in Macclesfield since all of the town's banks have closed.

He said: 'The lack of physical cash has affected my business in more ways than one.

'When my card reader broke, and the card machines were out of order, I had a customer that had to wait a whole hour just to be able to pay for something because there was nowhere for them to get cash from. So if the card reader doesn't work, then I don't get the business.'

Janette Allen, 66, who lives in Burslem, said: 'It's just not fair. A lot of people like having money on them.'

Stoke-on-Trent city councillor Alan Dutton, who represents Burslem Central, echoed the disappointment of shoppers and traders, describing it as 'absolute robbery'.

He said: 'A lot of people use cash, and now that all the cash machines have disappeared, we are in a desperate situation.'

Stoke-on-Trent North MP Ruth Smeeth raised the issue in a Parliamentary debate last month.'



Read More : The town with NO free ATMs: 24,000 residents of Burslem have to pay up to £3.50 every time they want cash



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Also from the article:

Quote
Recent figures show that free ATM machines have been closed at an unprecedented rate in the UK - around 250 a month - since the beginning of 2018.


This also ensures that bank runs are limited.



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Also from the article:


This also ensures that bank runs are limited.



Last Edit by Palmerston

I had not thought of that, but its true.



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Re: Ready To Go Cashless? Govt wants stores to stop accepting cash
« Reply #40 on: Feb 28, 2019, 06:21:15 am »
 

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Something rotten in the state of Denmark? Government wants stores to stop accepting cash
http://www.rt.com/business/452577-denmark-cashless-payments-crime/





'The Danish government is considering changing current laws which make it compulsory for the vast majority of stores to accept cash payments. The measure is part of Copenhagen’s push for a completely cashless society by 2030.

The law change would allow petrol stations, convenience stores and clothing shops to choose to only accept card and online forms of payment. The anti-crime measure would provide additional security for stores, according to Denmark’s Business Minister Rasmus Jarlov.

“Fewer people use cash today, so we think there should be a balance between the difficulty and security risks placed on business owners and the benefits of accepting cash,” Jarlov told the DR broadcaster.

A 2017 law enabled certain types of stores to apply for a dispensation to be cash-free between 10pm and 6am. The minister said that, “If you still want to use cash, I would advise saying so to the stores where you shop. I expect businesses to listen to their customers.”

“We are not forcing anyone to stop using cash,” he added.

Certain services, including supermarkets, postal services, doctors, pharmacies and other stores with “central societal functions,” will still be required to accept cash.

Denmark’s endeavor to move towards a completely cash-free economy has been the subject of heated debate lately; with opponents saying the measure is aimed at placing citizens exclusively under state control.'



Read More : Something rotten in the state of Denmark? Government wants stores to stop accepting cash



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Banks suffer IT failures at a rate of 'one a day' amid warnings over switch from real money to electronic payments
http://www.dailymail.co.uk/news/article-6767475/Banks-suffer-failures-rate-one-day-amid-warnings-switch-away-real-money.html





'Banks are suffering IT failures at the rate of one a day, threatening access to cash and blocking essential purchases for groceries and transport.

Customers were prevented from making payments on 302 occasions in the last nine months of last year, consumer experts Which? said.

They added that efforts by banks and retailers to make customers switch from real money to plastic cards and electronic payments must be resisted, as the data shows how the technology used in the UK’s finance system can be fragile.

Since last year, the Financial Conduct Authority has required banks to inform it of operational or security incidents which prevent customers from using payment services. Which? found the average number of significant breaches across each of the 30 banks and building societies it listed was one a month. It said Barclays reported the most with 41, followed by Lloyds Bank with 37, Halifax/Bank of Scotland had 31, Natwest suffered 26, RBS with 21 and Ulster Bank at 18.

TSB, whose botched introduction of a new IT system last year caused customers to lose access to online banking services, reported 16 incidents.

These technical failures often go far beyond minor glitches with people unable to access their money, monitor online accounts or make payments for everyday essentials, such as groceries or bus rides.

Which? said the figures ‘reveal that serious banking crashes are even more common than previously thought’.

It is calling on the Government to give a single regulator the statutory duty to protect access to cash and build a ‘sustainable cash infrastructure’. This would respond to concerns among millions of customers and small firms that banks are trying to phase out real paper money and coins by stealth.

Recent research found that ‘hole in the wall’ cash machines are closing at a rate of almost 500 a month while the nation’s banks are racing to axe branches in order to cut costs – with more than 3,300 closing since 2015.'



Read More : Banks suffer IT failures at a rate of 'one a day' amid warnings over switch from real money to electronic payments



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UK cash system "on the verge of collapse"
« Reply #42 on: Mar 07, 2019, 05:34:44 am »
 

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UK cash system ‘on the verge of collapse’, report finds



Review predicts cash could fall to just 10% of all payments in the next 15 years.




'More than 8 million UK adults would struggle to cope in a cashless society, according to a major report which claims that the country’s “cash infrastructure” is in danger of collapsing.

With Britons increasingly turning to digital payments, and bank branches and ATMs closing, the Access to Cash Review said companies and organisations providing “essential” services should be required to ensure that consumers can continue to pay by cash.

The review is funded by cash machine network Link, but is independent from it, and is chaired by the former head of the Financial Ombudsman Service Natalie Ceeney, with other members including Richard Lloyd, the former executive director of consumer group Which?.

Ceeney said that “17% of the UK population – over 8 million adults – would struggle to cope in a cashless society”.

Debit cards last year officially overtook notes and coins as the most popular form of payment in the UK for the first time, and the review’s report predicted that cash could fall to just 10% of all payments within the next 15 years.

It also called on the government, regulators and banks to “act now or risk leaving millions behind”. A spokesman for the review claimed the UK’s cash system was “on the verge of collapse”.

The bill for running the UK’s cash infrastructure – from ATMs to cash-sorting centres – was about £5bn a year, paid for predominantly by banks (and, ultimately, consumers), said the report. But while the costs were largely fixed, income was declining quickly.

As a result, it said, “we have a cash infrastructure which is fast becoming unsustainable”.

The report added: “Some of these companies may consider exiting the market as its profitability declines – leading to the risk of disorderly collapse … Without an effective wholesale cash infrastructure, ATMs won’t get filled, cash deposits won’t get counted, and we won’t trust the value of money.”

The report’s authors said the UK was “not ready” to go cashless, and that despite the runaway growth of contactless and mobile payments, a “significant number” of people – about 2.2 million – were currently using cash for all their day-to-day transactions.

Nevertheless, the volume of cash removed from ATMs is falling fast, and Which? has estimated that cash machines around the UK are closing at a rate of 300 a month.

The consumer group this week also highlighted the vulnerability of digital banking, revealing that British banks were being hit by IT or security failures that prevented customers from making payments at an average rate of more than once a day.'

Read more: UK cash system ‘on the verge of collapse’, report finds


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NatWest trials Fingerprint debit cards to remove £30 limit
« Reply #43 on: Mar 11, 2019, 04:38:14 am »
 

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NatWest trials fingerprint debit cards to remove £30 limit
http://www.theguardian.com/money/2019/mar/11/natwest-trials-fingerprint-debit-cards-to-remove-30-limit


'Bank customers will be able to spend more than £30 using contactless cards and could never again have to remember their four-digit pin if a fingerprint technology trial starting in April proves a success.

The pilot project from NatWest, the first of its kind in the UK, will use debit cards that contain an electronic copy of the customer’s fingerprint on one corner. If the customer places their finger on that part of the card while waving it at a retailer’s payment terminal, it will authorise a contactless payment above £30, and the customer will not have to type in their number. The first phase of the trial will be limited to 200 customers. If it gets the go-ahead, it will be the next step in the contactless spending revolution that has swept Britain since 2013. Last year more than 6bn payments were made using contactless “wave and pay” technology, but the £30 limit is restricting further growth, particularly for people filling up their cars at petrol stations or doing a large weekly supermarket shop.

NatWest said retailers would not have to make any changes to existing payment terminals to accept the new cards, and it was working with Visa and Mastercard to ensure it would be accepted in all locations.

If a card is stolen, the thief will not be able to use it as a payment is only authorised if the user’s fingerprint matches the data on the card at the point of sale.'



Read More : NatWest trials fingerprint debit cards to remove £30 limit



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Re: Ready To Go Cashless?
« Reply #44 on: Mar 12, 2019, 05:39:56 am »
 

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More than 500 village postmasters were 'wrongly hounded for stealing millions because an IT system was riddled with 29 bugs'
http://www.dailymail.co.uk/news/article-6797193/More-500-village-postmasters-wrongly-hounded-stealing-millions-system.html





'Hundreds of village postmasters were wrongly accused of stealing because Post Office computers were riddled with 29 separate bugs, the High Court heard yesterday.

When millions went missing, sub-postmasters were jailed, made bankrupt and had their lives ruined – but glitches in the system were to blame, it was claimed.

As 557 former sub-postmasters began fresh court action, a judge was told that postal chiefs tried to hush up reports that the software was plagued by problems. One sub-postmistress – Seema Misra, 43 – was jailed for theft when she was four months’ pregnant with her second son.

Overcome with shame, she considered suicide and her conviction means she is still struggling to find work more than eight years later.

At her 2010 trial, the Post Office claimed that although one IT bug was known about, it only affected ‘one branch’ 600 miles away in Scotland.

But yesterday, the High Court heard that the problem in the Horizon computer system had actually affected 30 branches.

Patrick Green QC, for the sub-postmasters, said: ‘It has taken the process of this group litigation to establish that the Post Office has not been truthful.’

Bosses have always denied the computer system could be faulty, even though pillars of their communities like Mrs Misra, of West Byfleet, Surrey, were mystified by their terminals declaring shortfalls of tens of thousands of pounds.

Now the Post Office could be forced to pay millions of pounds in compensation if it loses at the High Court.

Yesterday was the opening day of the second of four linked cases into whether it cheated its own sub-postmasters. The hearings will last until next year.'



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theguardian.com
http://www.theguardian.com/



Banks accused of abandoning England's poorest communities
http://www.theguardian.com/business/2019/jul/22/banks-accused-abandoning-england-poorest-communities





'Banks are closing branches in deprived communities in England four times faster than in wealthy areas.

High street banks have collectively closed 990 branches in the most deprived areas of the country since 2010, compared with 230 in the richest local authorities.

The digital bank Pockit, which conducted the research, said a quarter of the poorest local authorities had lost more than 40% of their bank branches – totalling 705 closures – over an eight-year period.

Between 2010 and 2018 about 5,035 bank and building society branches in England closed, a rate of almost two every day, it said. In Bradford, the 30th poorest local authority, the number of branches has dropped from 190 to 75, a 60% fall. At the same time Windsor and Maidenhead lost 17%.

Pockit has claimed that people without access to a bank account face paying up to an extra £485 each year because they miss out on preferential discounts on utility bills. There are thought be about 1.2 million individuals who do not use a bank account, relying on cash instead.

“Big banks are marginalising the poorest in society by shutting up shop and leaving them behind,” said Pockit’s chief executive, Virraj Jatania. “These findings suggest that high street lenders prefer serving the most well-off rather than the most in need. Banks should be supporting customers to improve their financial health, not abandoning them.”

Gareth Shaw, the head of money content at the consumer group Which?, said banks needed to provide suitable alternatives before they shut branches.'



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