Britain closer to cashless society

Image by Getty Images via @daylifehttp://itn.co.uk/780db8f883f8ea2f85bfbc053ebf5721.html
New credit cards with 'contactless' technology are being rolled out to millions of credit card users, a sign that cash could one day become a thing of the past.

The new technology on the cards allow users to simply 'tap' their credit cards over a payment terminal for purchases under £15 - without the need for inserting their PIN number - saving time with every purchase.

MBNA, Europe's largest credit card lender, is beginning a programme to roll out contactless credit cards for its millions of UK customers.

It will mean more than five million MBNA-issued credit cards will have contactless technology by the end of 2011; adding to around ten million similar credit and debit cards already in the UK market.

Research has shown that two thirds of people believe that in the future we will be able to purchase goods by fingerprint recognition, and a third think we will pay by having our retina scanned.

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Negative impact of ObamaCare already kicking in family rates are going up $200/month"

clipped from www.informationliberation.com 48 hours had not even passed after Congress approved ObamaCare before the negative impact of its provisions began kicking in. Remember, the so-called 'benefits' of the program will not begin until 2014. But the fees, taxes, and other surcharges that are essential to the plan go into effect immediately. Remember, the so-called 'benefits' of the program will not begin until 2014. But the fees, taxes, and other surcharges that are essential to the plan go into effect immediately. So much for the "my plan will save Americans" $2500/year in Healthcare premiums. "So I just got a call from my health insurance provider. My family rates are going up $200/month ... $2400/year per employee effective April 1st. Didn't take long after signing to get this s**t going. In anticipation of these homicidal measures being implemented once ObamaCare kicks in full-steam, apparently the government is getting in some early target practice on denying care for the elderly. I'm not sure how or why The Gov tends to keep trying to tells us things that it is not. Like this.

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Poland to be first in Europe to have biometric bank machines

Going through this article the past few days now. The only think that keeps crossing my mind is, Now instead of just stealing cards, they will also be stealing fingers to top it all off.
Do they really think a thief isn't a thief?

clipped from www.canada.com WARSAW - Poland's co-operative BPS SA bank claimed Tuesday to be the first in Europe to install a biometric cash point allowing its clients to use their fingertips rather than a bank card to withdraw money. "Our bank is the first in Europe to provide its clients with a new means to secure transactions to complement the secret code of their banking card," BPS SA Bank vice-president Krzysztof Jagielski told reporters Tuesday. "Thanks to a system which scans blood vessels in fingers, they can withdraw cash from a bank machine," he said of a new BPS cash point installed in the capital Warsaw. Based on "Finger Vein" technology developed by Japanese technology giant Hitachi, the bank machine which scans the unique network of minute veins in fingertips was developed by Wincor Nixdorf, a leading IT provider for retailers and retail banking. BPS said it would install three to four of the new biometric machines in Warsaw by the end of the year,

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Checks and Cash Slowly But Surely Disappearing

clipped from spectrum.ieee.org The Washington Post is reporting that the US Department of the Treasury will be announcing later today that most federal benefits payments from Social Security to Veteran disability checks will be made by electronic direct deposit beginning 1 March 2013. Businesses using Federal Tax Deposit Coupons will also need to go the electronic tax payment route. The Treasury says that the move will save $400 million in processing, postage and paper over five years. The Post story also says, "Americans who enroll on or after March 1, 2011, for benefits payments will receive them by direct deposit or be enrolled in the government's Direct Express Debit MasterCard program if they do not provide bank account information." In related news, the London Telegraph reported last week that the UK Payment Council expects that cash will be used for less than half of all consumer transactions in the UK by 2015

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11 Examples Of How Insanely Corrupt The U.S. Financial System Has Become

clipped from endoftheamericandream.com If you ask most Americans, they will agree that the financial system is corrupt.  It is generally assumed that just like most politicians, most big bankers are corrupt by nature.  But the truth is that the vast majority of Americans have no idea just how corrupt the U.S. financial system has become.  The reality is that the American Dream is literally being stolen from millions of Americans right out from under their noses and they don't even realize it.  The corruption on Wall Street has become so deep and so vast that it is hard to even find the words to describe it.  The level of greed being displayed by many Wall Street firms would make Gordon Gecko blush.  It seems that the major financial players will try just about anything these days - as long as they think they can get away with it.  But in the process they are contributing to the destruction of the greatest economic machine that the planet has ever seen.    The following are 11 examples

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E-payment Panacea To Cashless Society – E-PPAN

clipped from www.leadershipnigeria.com A foremost panacea to creating a wholly cashless environment in Nigeria is through heavy reliance on other touch points such as point of sales (PoS) channels, the internet and mobile phone, and this could be achieved through the commitment of the industry players. According to the research, there was  a deep-seated misconception about electronic payment (e-payment) in Nigeria, which has been equated with the automated teller machines (ATMs). The research further attributed the growth of ATMs to the huge investments that have gone into the business since it was introduced into the Nigerian banking space. The financial institutions that are the key drivers of this venture have invested heavily on acquisition of these machines, maintenance, training of human resources, security, purchase of associated accessories, advertising and marketing  to the negligence of PoS. This assertion is a result of a research conducted by the umbrella body for the e-payment industry

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World going Cashless

Image by Getty Images via Daylife

• Cashless society benefits merchants and consumers, says Visa VP | Pivotal Payments

  "Cashless society benefits merchants and consumers, says Visa VP By Lauren Lindberg [Merchant and consumer benefits to electronic payment processing may be accelerating the shift to a cashless society] 13/01/2010 - The world is increasingly moving toward a cashless society, driven both by consumer demand and merchant preferences, a Visa official told the UK newspaper The Telegraph. Steve Perry, executive vice president of Visa Europe, told the newspaper that society is becoming increasingly cashless because consumers have found that electronic payment processing is easier than carrying around cash, and are consequently shifting from paper to plastic payment methods. In addition, debit and credit card processing is better for merchants because it costs less than handling cash, he said. "Because cards are less risky (the associated cost is estimated at 0.02 percent to 0.1 percent per transaction on cards compared with 0.1 percent to 0.2 percent with cash) and encourage spending, they are more efficient and better value," Perry told the newspaper. "Furthermore, card transaction fees are expected to fall.""

  tags: cashless, money, cards, RFID, society, News, Government, US, Law, Prophecy

Posted from Diigo. The rest of my favorite links are here.

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Cashless society benefits merchants and consumers, says Visa VP | Pivotal Payments

Image by Getty Images via Daylife

• Cashless society benefits merchants and consumers, says Visa VP | Pivotal Payments

  "Cashless society benefits merchants and consumers, says Visa VP By Lauren Lindberg [Merchant and consumer benefits to electronic payment processing may be accelerating the shift to a cashless society] 13/01/2010 - The world is increasingly moving toward a cashless society, driven both by consumer demand and merchant preferences, a Visa official told the UK newspaper The Telegraph. Steve Perry, executive vice president of Visa Europe, told the newspaper that society is becoming increasingly cashless because consumers have found that electronic payment processing is easier than carrying around cash, and are consequently shifting from paper to plastic payment methods. In addition, debit and credit card processing is better for merchants because it costs less than handling cash, he said. "Because cards are less risky (the associated cost is estimated at 0.02 percent to 0.1 percent per transaction on cards compared with 0.1 percent to 0.2 percent with cash) and encourage spending, they are more efficient and better value," Perry told the newspaper. "Furthermore, card transaction fees are expected to fall.""

  tags: cashless, money, cards, RFID, society, News, Government, US, Law, Prophecy

Posted from Diigo. The rest of my favorite links are here.

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