Post by rubl on Jul 19, 2015 10:23:48 GMT 7
"Cities Should Consider Going Cashless
It is starting to make sense for cities worldwide to prepare for a cashless society.
Children in Iceland bake cookies to sell on the street, a tradition similar to American kids’ first taste of business selling lemonade. The difference is their choice of payment: While in the US, kids selling lemonade only take cash, Iceland’s children are armed with debit card readers. This way they don’t have to worry about counting change, accounting, or safekeeping the money.
When you start looking at the real cost of cash transactions, it is considerably expensive for businesses and governments to ensure that ATMs, cash registers, and banks in every municipality have correct change; whereas all you need for electronic payments is electricity and a phone hookup.
Nowadays, you don’t even need that phone connection anymore; most POS payment terminals used by stores, restaurants, and services in Europe are handheld, battery-operated wireless terminals that work over WiFi and cellular networks. They can process any kind of credit card — magnetic stripe, chip-and-pin, and contactless."
www.citiesofthefuture.eu/cities-should-consider-going-cashless/
It is starting to make sense for cities worldwide to prepare for a cashless society.
Children in Iceland bake cookies to sell on the street, a tradition similar to American kids’ first taste of business selling lemonade. The difference is their choice of payment: While in the US, kids selling lemonade only take cash, Iceland’s children are armed with debit card readers. This way they don’t have to worry about counting change, accounting, or safekeeping the money.
When you start looking at the real cost of cash transactions, it is considerably expensive for businesses and governments to ensure that ATMs, cash registers, and banks in every municipality have correct change; whereas all you need for electronic payments is electricity and a phone hookup.
Nowadays, you don’t even need that phone connection anymore; most POS payment terminals used by stores, restaurants, and services in Europe are handheld, battery-operated wireless terminals that work over WiFi and cellular networks. They can process any kind of credit card — magnetic stripe, chip-and-pin, and contactless."
www.citiesofthefuture.eu/cities-should-consider-going-cashless/
