Author Topic: Is it the end of cash?  (Read 6469 times)

quixoticgeek

  • Mostly Harmless
Re: Is it the end of cash?
« Reply #125 on: January 28, 2021, 05:04:01 pm »
I wonder if buskers* and street performers are going to have to start accepting card payments as nobody is going to have any coins to hand. Also what happens to low level drug dealers? Maybe they just get their clients to PayPal them the money. I imagine those higher up the chain use Bitcoin....

*Are buskers tax dodgers?  :P

I've seen buskers in London where they had a contactless terminal on a stand in front of them. I think I saw one that had several for different amounts, so you could swipe the £2 or the £5 etc...

J
--
Beer, bikes, and backpacking
http://b.42q.eu/

Re: Is it the end of cash?
« Reply #126 on: January 28, 2021, 05:38:21 pm »
I wonder if buskers* and street performers are going to have to start accepting card payments as nobody is going to have any coins to hand. Also what happens to low level drug dealers? Maybe they just get their clients to PayPal them the money. I imagine those higher up the chain use Bitcoin....

*Are buskers tax dodgers?  :P

I've seen buskers in London where they had a contactless terminal on a stand in front of them. I think I saw one that had several for different amounts, so you could swipe the £2 or the £5 etc...

J
Big Issue sellers to accept contactless payments https://www.bbc.co.uk/news/uk-49632116

Cudzoziemiec

  • Eating all the pies and drinking all the tea.
Re: Is it the end of cash?
« Reply #127 on: February 06, 2021, 05:47:30 pm »
Boy was sent to stupourmarket for some things and decided to get himself a burger on the way home. Disappointment! They now only take cash. There is a cash machine directly across the road, in fact it's in the external wall of the Sainsbury's he'd just come out of, but he didn't have a card either - only phone. Besides, he says he wouldn't have considered it worth waiting for the lights to change, crossing the road, getting cash out, then waiting for the lights to change again, etc...

Cash is clearly not dead but there does seem to be an increasing gap between cash-only and card-only retailers, with no way of predicting where any particular place will be.  In this particular case, most of their business is now Deliveroo and similar - so they're obviously open to electronic payments on a larger scale. Perhaps it's the per transaction fees that make eftpos unviable for them on an individual level?
Faster than a walk, slower than a train, often slightly higher than a person. (David Byrne)

Adam

  • It'll soon be summer
    • Charity ride Durness to Dover 18-25th June 2011
Re: Is it the end of cash?
« Reply #128 on: February 06, 2021, 09:26:21 pm »
Perhaps it's the per transaction fees that make eftpos unviable for them on an individual level?

Don't think so.  I know 30 years ago, when it was just the 4 big banks and there was just the Visa & Mastercard cartels, and they had similar one-off transaction fee + a percentage.  However, with the rise of so many other banks, I think the majority are now just a simple percentage only charge.

I'm with SumUp which is 1.6%, and that's not too bad if the vast majority of my takings are electronic giving me a net 98.4% as it means I avoid having to queue up for 30 minutes outside the bank in the rain to pay cash in.
“Life is like riding a bicycle. To keep your balance you must keep moving.” -Albert Einstein

Re: Is it the end of cash?
« Reply #129 on: February 06, 2021, 09:41:13 pm »
My dried goods grocery shop yesterday was with cash whereas groceries today was with a card.  I also bought flour, savoury scones and cakes from our local bakery yesterday which was also a cash transaction.

The two I paid in cash are small local traders whereas the card transaction was in a national supermarket chain.

Re: Is it the end of cash?
« Reply #130 on: February 06, 2021, 10:50:39 pm »
Last night I went out to the fish and chip van. A small local business. It took contactless payment from my ‘phone.
We are making a New World (Paul Nash, 1918)

Re: Is it the end of cash?
« Reply #131 on: February 07, 2021, 01:04:57 pm »
Last time I was in Tenerife the cafe up in the hills was cash only. The little bank round the corner had a contactless cash machine which I could use with my phone.

Cudzoziemiec

  • Eating all the pies and drinking all the tea.
Re: Is it the end of cash?
« Reply #132 on: February 07, 2021, 01:22:30 pm »
Last time I was in Tenerife the cafe up in the hills was cash only. The little bank round the corner had a contactless cash machine which I could use with my phone.
This was a possibility for Cudzo Jnr yesterday. However, it's not any cash machine; he has to get a transaction number from the bank and then use one of their machines, which was half a mile or so in the wrong direction, ie he didn't think it worth it for a burger. (I guess he wasn't really into that burger... ) That might be a feature of the Googlepay app and/or his bank rather than a universal thing.
Faster than a walk, slower than a train, often slightly higher than a person. (David Byrne)

Re: Is it the end of cash?
« Reply #133 on: February 12, 2021, 10:10:59 am »
I "dumped my wallet" at the start of lockdown in favour of this: https://www.cycleofgood.com/shop/gifts/wallets-and-purses/pocket-wallet/
which is good because:
It's made of old inner tubes; tough and cycley!
It's very slim and flat, good for a trouser or jersey pocket
Good cause etc

It wouldn't be any good for coins but you could keep banknotes in there.

Really nice stuff. Thanks

Re: Is it the end of cash?
« Reply #134 on: February 12, 2021, 10:20:09 am »
I "dumped my wallet" at the start of lockdown in favour of this: https://www.cycleofgood.com/shop/gifts/wallets-and-purses/pocket-wallet/
which is good because:
It's made of old inner tubes; tough and cycley!
It's very slim and flat, good for a trouser or jersey pocket
Good cause etc

It wouldn't be any good for coins but you could keep banknotes in there.

Really nice stuff. Thanks

I missed this first time around but I have now ordered one to see if it suits for my running needs.  Nice project.

Thanks.