The move from physical money to digital transactions may be leaving nations exposed to Russian cyber-attacks
https://www.telegraph.co.uk/business/2024/11/29/going-cashless-threatens-play-straight-putin-hands/
https://www.telegraph.co.uk/business/2024/11/29/going-cashless-threatens-play-straight-putin-hands/
The Cost of Going Cashless
https://www.nytimes.com/2022/11/13/opinion/cashless-pay-problem.html
PAMELA PAUL correctly notes:
Consumers also pay in terms of privacy. Do you want your payment app or credit card company to share exactly how many beers or Big Macs you’ve bought in the past week with its data partners, or to know every item you picked up at the pharmacy? And while a cash system is subject to crime, like employee theft and robbery, digital payments aren’t without their own risks, including double charges and identity theft.
But the most significant objection to a cashless system is whom it shuts out. Whereas cash enables everyone, no matter their age, credit history, immigration status or income, to pay directly for goods or services rather than use an intermediary, credit cards generally require a bank account.
https://www.nytimes.com/2022/11/13/opinion/cashless-pay-problem.html
PAMELA PAUL correctly notes:
Consumers also pay in terms of privacy. Do you want your payment app or credit card company to share exactly how many beers or Big Macs you’ve bought in the past week with its data partners, or to know every item you picked up at the pharmacy? And while a cash system is subject to crime, like employee theft and robbery, digital payments aren’t without their own risks, including double charges and identity theft.
But the most significant objection to a cashless system is whom it shuts out. Whereas cash enables everyone, no matter their age, credit history, immigration status or income, to pay directly for goods or services rather than use an intermediary, credit cards generally require a bank account.