Are we getting closer to becoming a cashless society?

Coronavirus fears mean shops are accepting card payments only. Is this the end of cash?

https://www.abc.net.au/news/2020-03-20/will-coronavirus-kill-off-cash-in-australia/12065860

"So while coronavirus may be making us loathe to actually touch cash, it will be many years, if ever, before Australia's banknotes are killed off."

 

"Our boss wants us to minimise hand-to-hand interactions and, obviously, cash carries a lot of germs."

No less than those filthy debit cards. And I even hate to think how many
germs are in those shop payment terminals that everyone have typed their PIN code with their crummy little fingers with glee ...
Yuck!

 

FYI:

"...The scientists found that severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) was detectable...up to four hours on copper, up to 24 hours on cardboard and up to two to three days on plastic and stainless steel..."

https://www.nih.gov/news-events/news-releases/new-coronavirus-stable-hours-surfaces

 

A cashless society only means our governments can control us completely. And that's their aim.
If our health was their concern they'd have closed borders in late January, or tell us that the reason behind the situation is Italy is the large numbers of Chinese workers in the North.

 

There are contactless cards. In some countries PIN is not required for transactions up to some small amount of money.
I wonder whether somebody can disinfect these cards using 62%-71% alcohol-water (ethanol and/or isopropyl) solution and not damage anything on them.

I don't like the idea of cashless society (with some exceptions such as cryptocurrencies), but I think card and smartphone payments are less germ infested.

 

Russia in digital payments push as it limits banknote circulation
March 24, 2020
https://www.reuters.com/article/us-...-it-limits-banknote-circulation-idUSKBN21B1D1

 

Coronavirus: SF businesses decline cash, fearing it could spread the virus
March 24, 2020
https://www.sfchronicle.com/busines...-businesses-decline-cash-fearing-15154292.php

Blue Bottle buys into cashless trend

 

FWIW: In SF it's against the law for a business to refuse cash.

"San Francisco followed Philadelphia, the country’s first city to ban cashless businesses. Non-compliant companies in San Francisco can get fined between $50 and $100 for the first offense. The new policy doesn’t apply to food trucks and pop-ups."

https://www.sfchronicle.com/business/article/Cashless-SF-stores-now-must-take-cash-14371473.php

 

UK cash usage halves within days as shops close due to coronavirus
Fears for those without bank cards as shoppers switch to contactless to avoid virus
March 24, 2020
https://www.theguardian.com/money/2020/mar/24/uk-cash-usage-halves-in-few-days

 

Whenever possible I use Android "Google Pay" on my phone with NFC - No PIN is required. Also with some apps, such as Starbucks, you can register a credit card and display a barcode for scanning when paying.

 

I still use cash except for Internet shopping. SARS-CoV-2 spread primarily by respiratory droplets in the air. Being in proximity to other people is far more dangerous than using cash. In addition I can't completely avoid touching any surfaces while in shop or pharmacy. Just wash or disinfect your hands using alcohol-water solution before eating, drinking and just after arriving home. Washing hands with soap is preferable.

 

So, I went shopping today... a little saddened to see some shops are only accepting card payments. If I could believe this was just a temporary condition I could live with it, but I'm not so sure.

 

Check Germany: https://www.npr.org/2019/06/09/728323278/for-many-germans-cash-is-still-king?t=1586856360429

 

Hand washing and reducing proximity to others are both important, but why not avoid exchanging cash as well to reduce risk? In my community all of the restaurants are only accepting credit cards and they have the card readers out front so that only customers touch them. Many are moving to online / mobile app ordering so that the whole transaction is taken care of in advance.

 

I care about privacy and I believe that cash does not increase risk substantially in most situations*, because I am washing hands and do not touch face with unwashed hands.

*Restaurants and food trucks may be an exception

 

Well many cards have contactless technology called NFC, so you can pay without having to touch the machine, it works pretty well.

 

I think cards have RFID chips. NFC is found inside smartphones and can be used by banking apps.

 

You might be fine. But what about other people?

 

I see, you are right, it seems RFID chips are more common for contactless cards, but my bank seems to specifically have a NFC chip (EMV contactless), anyway it works well.


Similar to this one:
https://www.globalpaymentsintegrate...G-Thing-in-Payment-Processing-EMV-Contactless

 

Standing in my local shop last week while the village had no power, I thought about this as I walked back home to go get some cash.

Cashless works well if you live in a well connected area with a reliable power grid, and have a bank account.
A lot of the world does not meet those criteria, so a cashless world is impossible.
Remove the ability to use cash and barter is King.

 

As I said earlier: I just don't see that much risk added by using cash.

Power grid is in good shape in my country, but from time to time some bank or payment provider infrastructure doesn't work for a hour or two. For people who use electronic money extensively I would advise at least having account in two different banks. These bank IT infrastructure should be as independent from each other as it could be done. Some money on backup account just to buy food, water, gasoline and other essential things.

 

You should be washing your hands regularly and obviously not touching your nose, mouth or eyes with them. Yes money can probably transfer germs, but so can a million other things we come in contact with on a daily basis, like produce, items at a market that people touched but did not buy etc... I think cash is here to stay for the time being.

 

"Contactless Payments Skyrocket Because No One Wants to Handle Cash

Worried about Covid-19, shoppers use phones to buy, get food

Keypads on credit-card readers are also a red flag in pandemic..."

https://www.bloomberg.com/news/arti...rganic&utm_content=business&utm_medium=social

 

It is nonsense for me to use smartphone for payments. You get into the shop. Even if shop has automatically opening doors then you touch refrigerator door handle or something else and your hand is potentially contaminated. Then you touch your smartphone and smartphone is potentially contaminated. Problem with smartphones is that somebody may be calling and you touch your face with it.
After arriving home and washing your hands you may contaminate your hands with smartphone. People are using smartphones during eating for example.

If you really want to not handle cash use credit and debit cards. People generally don't touch their faces with cards and don't feel the craving to touch cards during eating at home.

 

I tell you what, anyone that is worried about any virus living on cash for any period of time, feel free to give me all of your cash.When I go shopping I see everyone touching the keypad for their credit/debit cards. Nobody is disinfecting the keypad between uses.