Cashless Society

04/16/2016 16:09
Starting this summer, the government will test a system in which foreign tourists will be able to verify their identities and buy things at stores using only their fingerprints. The government hopes to increase the number of foreign tourists by using the system to prevent crime and relieve users...
11/03/2015 19:05
If you’ve seen movies like Idiocracy, even at the future’s lowest level of technological advancement, people will be scanning body parts to get through life. It may be 25, 100, or 500 years from now, but those days are in our future. For some people, the future is now, as the world’s first...
03/02/2015 07:05
An Indian diplomat’s wife taking a short course to learn French in Brussels remembers how she was unable to pay her tuition fee in cash. The teacher went around the classroom collecting the fee with a portable credit card machine. Students promptly swiped their cards and paid up. The only one to...
12/15/2014 07:28
If you have little or no cash in your wallet, you’re not along.  A UK company called VoucherCloud finds 57% of American adults say they don’t usually carry much cash. And only 10% say they always carry cash.  We are becoming a cashless society. Andrew Schlage of MoneyCrashers.com...
10/13/2014 07:06
Four out of five purchases in Sweden are paid electronically or by debit card and with the development of cheaper technology the trend is moving towards a fully cash free society, according to a new report. "Sweden and the rest of Scandinavia leads the world in terms of cashless trading," said...
09/02/2014 07:12
When it comes to making small purchases, Americans prefer cash over plastic, but according to a new survey that’s likely to change. “We are moving towards becoming a more cashless society,” said Creditcards.com Senior Industry Analyst Matt Schulz “Two-thirds of American card holders still use cash...
07/27/2014 20:50
A leading financial association in Norway recently suggested that the country could very well be on track to becoming cashless by the year 2020. The group noted that only about five percent of transactions conducted in the country are done so with cash, and suggests that eliminating paper money...
06/25/2014 10:19
Preference for debit and credit cards over cash when shopping is turning Britain into a cashless society. Research undertaken for thinkmoney has shown that just over one in 10 respondents (11 per cent) had no cash on them at all; this is almost double the number of people who said the same when...
06/01/2014 09:10
The Government plans to curb fraud in ministries and State agencies through e-payments that kick-off on July 1. To prevent online fraud, the Government says it will roll out the Cyber Security Master Plan before end of June. Principal Secretary, Ministry of Information, Communication and Technology...
05/26/2014 08:07
A special committee headed by Prime Minister Benjamin Netanyahu’s chief of staff, Harel Locker, has recommended a three-phase plan to all but do away with cash transactions in Israel. The motivation for examining a cash-less economy is combatting money laundering and other tax-evasion tactics,...
05/21/2014 11:48
America is moving slowly but surely toward a cashless society as businesses are coming up with easier ways for people to pay electronically. The New York Times reports that banks and retailers are trying to develop new payment systems using cell phones, and they’re working on ways to protect...
05/15/2014 07:57
Are we getting closer to the day when we stop using cash to pay for things? A new Bankrate.com poll finds 9 percent of us are already there. They don't regularly carry any cash on a daily basis. Even those who do walk around with cash don't carry much. The poll found 49 percent of us have $20 or...
05/14/2014 21:03
Maybe the cards filling up consumers’ wallets are just making less room for cash, but nearly eight out of 10 (78 percent) U.S. consumers carry less than $50 with them at any one time, with 49 percent carrying $20 or less, new survey data show. By gender, women appear to be further along the road...
04/22/2014 07:11
FORGET carrying a wallet because all you could soon need is your hand to pay for goods. Advanced technology is being rolled out in Sweden that allows empty-handed consumers to purchase goods using a tap of their palm. Detection of a person’s unique vein structure allows the store to verify a...
04/15/2014 20:28
Hand scanning has become an alternative payment method for people in a city in southern Sweden, researchers at Lund University said Monday. Vein scanning terminals have been installed in 15 shops and restaurants in Lund thanks to an engineering student who came up with the idea two years ago while...
04/07/2014 07:28
Last week, St. Louis Fed Vice President and Director of Research David Andolfatto released a presentation on Bitcoin, becoming one of the most prominent central bank officials to study the cryptocurrency. We caught up with Andolfatto to ask him about why he put this deck together, where he thinks...
03/29/2014 10:43
Backers offer to circumvent high banking fees A virtual currency called "Bitcoin" has become popular in the past few months. Traded digitally, it can be used instead of money. Today, the Bitcoin is trading at about $530.00. "Every time I go to buy something the person...
03/08/2014 09:30
We are living at a time of exciting technology change that is rapidly changing the way we interact and transact with people as individuals, customers and in business. We are already close to becoming a cashless society by the level and value of non-cash transactions (between 80 per cent to 95 per...
03/03/2014 18:00
If you’re wondering what Bitcoin is, you’re not alone. In fact, 46% of Americans aren’t sure what Bitcoin is (while another 6% think it might be an Xbox game), according to a 2013 Bloomberg poll. What is Bitcoin? Bitcoin /ˈbɪtkɔɪn/, n: a peer-to-peer payment system and digital...
03/03/2014 10:24
Dubai: The key differentiator for electronic payments to gain traction is when the governments come in, a senior MasterCard official said yesterday during an interview with Gulf News. “The government decides the roadmap for cashless society. The biggest difference we made in Africa is when we...
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One World Monetary System

05/21/2014 20:38
US Economist James Rickards’ New York Times best-selling book, The Death of Money: The Collapse of The International Monetary System, is an extensive reference work on the reasons the dollar will cease to be the world’s reserve currency and provides an overview of the current landscape of the...
04/25/2014 03:50
Willem Middelkoop and Terence van der Hout of the Netherlands-based Commodity Discovery Fund believe that when the world’s reserve currency is reset away from the U.S. dollar in the next decade, gold prices will rise and mining equities will follow. Van der Hout and Middelkoop tell The Gold Report...
01/30/2014 20:39
The World Bank's former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system. "The dominance of the greenback is the root cause of global financial and economic crises," Justin Yifu Lin told Bruegel, a...
05/16/2013 15:16
Pope Francis has attacked the “dictatorship” of the global financial system and warned that the “cult of money” was making life a misery for millions. He said free-market capitalism had created a “tyranny” and that human beings were being judged purely by their ability to consume goods. Money...
01/24/2013 06:54
BRUSSELS - For those suffering from eurozone crisis syndrome, it is easy to forget that an economic world exists beyond the EU's borders. For all the talk of recession and depression it would be a mistake to think that economies are in retreat the world over. In reality, most of the world is...
12/13/2012 06:43
Finance ministers have agreed to hand the ECB powers to police eurozone banks in a new phase of closer integration to underpin the euro Now the current Italian prime minister Mario Monti is speaking in Brussels but will not be drawn on his future. He says:     It seems more...
11/15/2012 21:03
BRUSSELS - In Greek mythology, the Phoenician princess Europa was abducted and raped by the king of the gods, Zeus. But her image will from next year replace pictures of windows and doors on euro banknotes as a security and deocrative feature. "Portraits have long been used in banknotes...
10/25/2012 21:39
The financial crisis, the 2008/09 recession, the banking scandals that have followed, and today’s limping recovery are all linked. The common factor is the absence of a real international monetary and banking order. Only when such an order is restored will companies and consumers feel confident...
01/01/2012 07:37
Reuters:  The euro could become the world's leading currency in the next decade if leaders of the single-currency bloc succeed in tightening fiscal integration, European Central Bank policymaker Christian Noyer said in an article to be published in the Journal du Dimanche. European leaders...
11/17/2011 05:37
BI:  Yesterday German Chancellor Angela Merkel came flat out and said, "To save the Euro we must Destroy Germany". Well not exactly, but she may as well have because that is the implication. This is what she did say: Germany Is Ready to Cede Some Sovereignty to Save the Euro Chancellor...
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