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Cashless Australia

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Halcyon:
There are cheaper alternatives to Paypal, for example Square. You can buy an NFC/chip reader for $60. They charge 1.9% on card payments (versus 2.6% Paypal charge).

Red Squirrel:

--- Quote from: nctnico on March 14, 2021, 12:01:23 pm ---Ofcourse it is. There are many micro-payment platforms. You can use your mobile phone for that. Over here I can send a payment request from a mobile phone and the other person can pay immediately. The money goes straight into my bank account. I'd say it is more convenient compared to Paypal and no direct fees (the service comes with the bank account and is supported by all major banks).

--- End quote ---


The issue with this is it requires both parties to have a phone, and the same app.   Look at a FB marketplace type scenario.  With cash, you show up to that person's house, hand over the cash, take the item, and leave.  If they get rid of cash now you have to fiddle around with installing some app, setting up an account etc...  and since it's tracked, the government is also going to want a cut from that money.   

I guess there is always Interac etransfer.  Most banks do support that.  So you could just pay in advance before going to get the item.    But still, for small non business transactions nothing really beats cash.   I always try to pay cash at a small business as well, since with interac/credit card they need to pay a fee per transaction.

TopLoser:
I moved to France from England 9 months ago. Since I’ve been here I’ve not used cash at all, not a single cent. The only time I had a need for cash was for a coin for a supermarket shopping trolley, but I just used 2 hand baskets instead.

Contactless, debit card, ApplePay, PayPal, all have worked flawlessly at all times. Wouldn’t even consider keeping cash on me now, and haven’t for 9 months.

Monkeh:

--- Quote from: TopLoser on March 15, 2021, 02:15:18 am ---I moved to France from England 9 months ago. Since I’ve been here I’ve not used cash at all, not a single cent. The only time I had a need for cash was for a coin for a supermarket shopping trolley, but I just used 2 hand baskets instead.

Contactless, debit card, ApplePay, PayPal, all have worked flawlessly at all times. Wouldn’t even consider keeping cash on me now, and haven’t for 9 months.

--- End quote ---

I guess you never made impact at the bottom of the stairs. Good to see you're still alive across the wall.

Halcyon:

--- Quote from: TopLoser on March 15, 2021, 02:15:18 am ---I moved to France from England 9 months ago. Since I’ve been here I’ve not used cash at all, not a single cent. The only time I had a need for cash was for a coin for a supermarket shopping trolley, but I just used 2 hand baskets instead.

Contactless, debit card, ApplePay, PayPal, all have worked flawlessly at all times. Wouldn’t even consider keeping cash on me now, and haven’t for 9 months.

--- End quote ---

That is pretty much the situation here (although you can buy "tokens" for shopping trolleys which attach to your keys).

Most card terminals here are backed by cellular data, so even if a venues own broadband connection goes down, there is a backup. I do recall once some payment networks were experiencing problems with card payments on a state/national level, but the terminals seemed to revert to some kind of fallback mode where provided that the correct PIN/valid card was supplied, the payment was honoured from the customers perspective, but were queued in the store's terminal until connection was re-established at which point the customer's bank account was debited. In the case where the account did not have enough money, negative balances were possible (and most banks will hit the card holder with an additional fee). I don't think this works for card-not-present transactions however.

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