How COVID-19 is accelerating the shift
to a cashless society
Philadelphia Inquirer,
by
Andrew Maykuth
Original Article
Posted By: tisHimself,
7/7/2020 6:03:06 AM
Tom Ivory, the founder of the Baker Street Bread Co. in Philadelphia’s Chestnut Hill section, fought a valiant effort for years to rein in bank fees by imposing a minimum credit card purchase of $10. But more customers wanted to go cashless, and Mr. Ivory eventually relented and accepted plastic for any transaction, no matter how small. About 78% of the purchases at the cafe and store are now paid through credit cards or other electronic transfer — up from 10% just five years ago. Correction*
*Source corrected. Use original source only. No "via" any other publication. Review Rules & FAQs before posting again.
Reply 1 - Posted by:
Daisymay 7/7/2020 6:55:15 AM (No. 469717)
I don't believe most customers want to go cashless. I think it was another scare tactic. Once we move away from Covid threats, we will go back to using cash. In fact, I think the majority would prefer to use cash for small purchases. The exception would be college kids who use their Debit cards for everything! Doesn't matter if it's a cup of coffee, they use Debit cards!
14 people like this.
Reply 2 - Posted by:
chumley 7/7/2020 6:58:01 AM (No. 469719)
A cashless society is one of the goals of communism. We're getting there.
31 people like this.
Reply 3 - Posted by:
Mizz Fixxit 7/7/2020 6:59:57 AM (No. 469723)
Obviously, elimination of cash enables big government to track every purchase, which means expanded government control and more tax revenue.
27 people like this.
Reply 4 - Posted by:
franq 7/7/2020 7:24:03 AM (No. 469737)
The Mark.
14 people like this.
Reply 5 - Posted by:
Bur Oak 7/7/2020 8:24:26 AM (No. 469792)
If you have any cash that is bothersome, send it to me.
8 people like this.
Reply 6 - Posted by:
triggerberg 7/7/2020 8:28:53 AM (No. 469799)
#1 is right about college kids and debit cards. They generally don’t v]carry cash, and if they do they can’t be bothered to take their change after using cash. The college-age daughter of a friend (who happens to be a financial planner) told about the money his daughter collected while on a trip with her friends; she noticed they would just leave their change on the counter and walk away. When she asked them about it the answer was, “It’s not enough to bother with.” After that she picked up the abandoned change and ended the trip nearly $50 richer.
8 people like this.
Reply 7 - Posted by:
cor-vet 7/7/2020 8:52:43 AM (No. 469822)
We use cash as much as possible. Some businesses will charge less for cash transactions, but even if they don't, you still save the interest charges on credit cards. There's a reason why you are asked at the time of the transaction, if the card is debit or credit. We don't even have a debit card, and don't plan on getting one. We have a few businesses in our area that won't take a card or a check, strictly cash. You know it's time to quit shopping when you're out of cash, not so much when your throwing the card around.
8 people like this.
Reply 8 - Posted by:
stablemoney 7/7/2020 8:52:48 AM (No. 469823)
Now the state knows exactly what you purchase, 10 days after the end of each month. Knowledge never goes unused.
9 people like this.
Reply 9 - Posted by:
LadyHen 7/7/2020 8:56:39 AM (No. 469827)
This isn't new in our world. I haven't carried more than $40 on me for the majority of the past 2 decades.
If I get mugged and cards are stolen, I am out 0 $$$. If my cash is stolen... good luck seeing that money again.
5 people like this.
Reply 10 - Posted by:
Mizz Fixxit 7/7/2020 9:33:13 AM (No. 469867)
Excuse the second post. This issue has bugged me for many years as the government and commerce have placed limitations on the use of cash. “Legal tender. For all debts, pubic and private” is still printed on US currency. But that statement is untrue. In France, I believe, there is a transaction limit of 1,000 Euros cash. Coming to a country near you.
4 people like this.
Reply 11 - Posted by:
Mizz Fixxit 7/7/2020 9:34:59 AM (No. 469873)
Oh, good G **. Public!
2 people like this.
Reply 12 - Posted by:
planetgeo 7/7/2020 10:13:59 AM (No. 469923)
Beware the "cashless society." In brief, no trasaction too small for the government to see it, tax it, or seize it. Or you.
6 people like this.
Reply 13 - Posted by:
jofel 7/7/2020 10:23:07 AM (No. 469929)
Now I know why stores are asking for small change, they all seem to be requesting it!
1 person likes this.
Reply 14 - Posted by:
HotRod 7/7/2020 10:43:41 AM (No. 469942)
I ate at a burger joint last night and they had posted a sign that said: ''Exact change only, or credit/debit card.''
I asked why and they said there was a shortage of coins and one dollar bills. What is causing that?
2 people like this.
Reply 15 - Posted by:
Starboard_side 7/7/2020 12:13:10 PM (No. 470050)
So, a friend who was living in China told me how this changed things there.
Since all purchases are by the debit/phone, they found many businesses who suddenly had significant increases in sales.
Makes it much more difficult to hide sales from the government when it's all online.
And, yes, the government "finds" more taxable revenues as a result.
1 person likes this.
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