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The thing I don't like about the move to cashless most, is that it is very much centered around payment systems in the private sector. It makes the middleman co
by Arbalest 7y ago
The thing I don't like about the move to cashless most, is that it is very much centered around payment systems in the private sector. It makes the middleman compulsory. Our Australian government is moving to make all payments over $10,000AUD cashless only. Thus making middlemen practically compulsory. If government wants to seek their means of deanonymisation for money laundering, make sure that there's an easy way to do that without middlemen taking a cut.
- L_226 7y ago> If government wants to seek their means of deanonymisation for money laundering, make sure that there's an easy way to do that without middlemen taking a cut. Ah, but that would mean their mates at the big 4 would not get their fat bonuses.
- oliwarner 7y agoThis is slightly better in some places. I can, for instance, issue a Faster Payment to another UK bank account. This takes seconds. It's fast enough for payment transactions. And intermediates like GoCardless make this easier and for very small sums (£2 fixed, no upper limit). I completely agree though. If your bank's aren't going to guarantee anything tighter than a 3 day turnaround, they're useless here.