The world will soon be cashless


While some countries like Malta, also Japan, are still mainly cash based, most of the countries are moving towards digitizing all, or most, payments. In recent years there have been news coming out from many countries regarding going cashless, countries you may have heard about in this context are mainly the Nordic ones – Norway, Sweden, but also India, Canada, and UK.

You can ride the buses that accept contactless payments. For example First Bus announced just last week that they will be completing implementation of contactless payment across the UK, and they will get it done by 2018.

Card payments in general have been on the rise everywhere, for paying for buses, taxis, your beers, or whatever else.

While the world is moving towards cashless life, there are still obvious concerns about everything. The first one is the security and safety of the cashless payments. Especially when you think of swipe payments which in some countries are still a no-go while in other ones have been used for a long time already. Even though you can swipe only 10-25 pound payments, there are safety concerns if the card gets lost, for example. The second one is the ‘power’ cashless payments give to companies and governments since everything digital can be traced. And your bank, and government, will even know 10 years later that you bought the vodka from your corner shop at 7.09pm on June 6th.

According to a survey by Cartridge Save, 70 percent of Britons wouldn’t be happy with the government agencies being able to track every payment you ever made. “I would not like it if the UK went cashless. I still like the choice and think people mostly do. I don’t think it will happen,” said a 61 year old man about UK going cashless.

The world’s most cashless countries right now are:
1. Belgium, the amount of non-cash payments is 93%
2. France, the amount of non-cash payments is 92%
3. Canada, the amount of non-cash payments is 90%
4. United Kingdom, the amount of non-cash payments is 89%
5. Sweden, the amount of non-cash payments is 89%

You can read more about the topic here.

 
 
 
 
 
 
 

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