The future of cash? Of banking?
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22-11-2015, 06:55 PM
The future of cash? Of banking?
60 minutes is doing a story on M-Pesa, a simple and low-cost way to move money without credit cards or banks. It has taken off like gangbusters in Kenya.

Think of really inexpensive money orders and cash cards accessible by cell phone.

Do you think the financial services lobby might have a problem with this? Consider

Skepticism is not a position; it is an approach to claims.
Science is not a subject, but a method.
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22-11-2015, 07:26 PM
RE: The future of cash? Of banking?
Here in the Dominican Republic there is a lot of talk about that, but I doubt if it would work very well. How would every taxi driver and every hooker be able to transact their business.
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22-11-2015, 07:37 PM
RE: The future of cash? Of banking?
(22-11-2015 06:55 PM)Chas Wrote:  60 minutes is doing a story on M-Pesa, a simple and low-cost way to move money without credit cards or banks. It has taken off like gangbusters in Kenya.

Think of really inexpensive money orders and cash cards accessible by cell phone.

Do you think the financial services lobby might have a problem with this? Consider

Quote:Do you think the financial services lobby might have a problem with this?
This is a rhetorical question right?

DJ

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22-11-2015, 10:11 PM
RE: The future of cash? Of banking?
(22-11-2015 07:26 PM)DerFish Wrote:  Here in the Dominican Republic there is a lot of talk about that, but I doubt if it would work very well. How would every taxi driver and every hooker be able to transact their business.

They do just fine in Kenya. Consider

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22-11-2015, 10:12 PM
RE: The future of cash? Of banking?
(22-11-2015 07:37 PM)OhDannyBoy Wrote:  
Quote:Do you think the financial services lobby might have a problem with this?
This is a rhetorical question right?

DJ

Questions don't get a whole lot more rhetorical. Cool

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22-11-2015, 10:21 PM
RE: The future of cash? Of banking?
(22-11-2015 07:26 PM)DerFish Wrote:  Here in the Dominican Republic there is a lot of talk about that, but I doubt if it would work very well. How would every taxi driver and every hooker be able to transact their business.

They could get one of those card readers for their smart phones.
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22-11-2015, 11:19 PM
RE: The future of cash? Of banking?
(22-11-2015 06:55 PM)Chas Wrote:  60 minutes is doing a story on M-Pesa, a simple and low-cost way to move money without credit cards or banks. It has taken off like gangbusters in Kenya.

Think of really inexpensive money orders and cash cards accessible by cell phone.

Do you think the financial services lobby might have a problem with this? Consider

"financial services lobby"? Looks like you still need a bank account to use this service.

Wouldn't bitcoins be a better example for such a question?
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23-11-2015, 01:09 AM
RE: The future of cash? Of banking?
Cash may not survive in First-world countries except in vaults.

The banking industry will evolve to control whatever currency arises; there's too much at stake for them to pull up pegs and go into groceries.
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23-11-2015, 06:36 AM
RE: The future of cash? Of banking?
As long as there are Congressmen who make the laws and prostitutes that only take cash, it's safe to say cash isn't going away........

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23-11-2015, 07:20 AM
RE: The future of cash? Of banking?
https://en.wikipedia.org/wiki/Bitcoin

Been around for a while and gaining popularity.

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