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#1 Jul 28, 2017 4:47 pm

gripe
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The First Cashless Society: Sweden or India?

The Swedes make a guarded claim to be the first cashless society. A visit to Sweden's official website will produce this: "Ask a Swede when they last paid for something in cash. The probable answer is last month or week. Digital payments via card or mobile apps are so common and trusted that many Swedes no longer carry cash. They even let their children pay with cards. The Swedish Trade Federation explains why." https://sweden.se/business/cashless-society/

However, India has made many strides towards a cashless society and may take the prize as the first to do so. A July 2, 2017 "Business Insider" article reported that "The top news out of India over the past 12 months has been Prime Minister Modi’s move to ban 85% of the currency in circulation. However, something much more far-reaching has happened. It’s called India Stack." http://www.businessinsider.com/india-mi … ety-2017-6

Sweden and India surely are not the only countries moving to a cashless society, but, they are racing quite fast towards the finish line.

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#2 Jul 28, 2017 6:18 pm

houston
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Re: The First Cashless Society: Sweden or India?

That's interesting gripe. Cash is gradually being phased out every where it seems.
People fiddle fart with plastic and pin codes while trying to pay for a coffee anymore.
The express lane at the grocery store is no longer the express line, it's the fiddle with pin, reward points, poor eyesight and malfunctioning device line.
That self check out process I think is great, except for when the bar code isn't on a flat surface. Still much quicker than the 1 to 800 item express line.

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#3 Jul 30, 2017 11:50 pm

Expat
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Re: The First Cashless Society: Sweden or India?

houston wrote:

That's interesting gripe. Cash is gradually being phased out every where it seems.
People fiddle fart with plastic and pin codes while trying to pay for a coffee anymore.
The express lane at the grocery store is no longer the express line, it's the fiddle with pin, reward points, poor eyesight and malfunctioning device line.
That self check out process I think is great, except for when the bar code isn't on a flat surface. Still much quicker than the 1 to 800 item express line.


I don't care if their is a dictatorial self help machine at the check out. Me, I find a human, and try to keep them in work.

Machines may not spend money, but they sure as hell stop people from earning it, which means less money in circulation.

Maybe we should all be on an annuity, sitting at home getting fat, while robots do all the work.

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