I don't like it, but I think the long term plan is to eliminate paper money, and with it privacy.
I live in the Netherlands and you can really live 100% cash-free here. A lot of places are card-only, even.
I live in the Netherlands and you can really live 100% cash-free here. A lot of places are card-only, even.
And of course cashless makes it hell on those without bank accounts, like the homeless and immigrants, those who rely on informal employment, and the general outskirts of society. There are prepaid cards, but they require ID checks and often fees which they can hardly afford. That will make many rely on informal banking from loan-shark types.
And last, the banks see everything. I worked for a bank. I definitely don't want those people to have all the data that matters on everyone.
New York and some other cities actually made it illegal, as it's discriminatory.
Refusing to take part in the banking system is not worth penalizing businesses for. Let the free market work.
The Visa/Mastercard cartel has too much power.
1- you are on the secret unaccountable banking blacklist
2- you lack proper identity documentation
3- you are a fugitive from justice
Without a bank account, you can't get a payment card, and, in a cashless world, you can't buy food.
The problem you cite is not solved by requiring businesses to accept cash—it is solved by removing the homeless schizophrenic from the depravity of the street.
There is a secret blacklist shared among the banks that cause them to deny or automatically close accounts held by certain people. They are not required to service anyone.
Do you not see the dangerous failure modes of allowing private companies to point and click cause someone to become persona non grata without due process? They also happily do so at the request of the state, again with no requirement of criminal wrongdoing or burden of proof, and no due process.
You don’t want those people to not be able to buy food, or the next time you go and buy vegetables or fruits or chicken breast with your own shiny metal bank card, you might find yourself paying 5x the cost.