The Coming Cashless Society: How your mobile phone can be turned into a credit card – it could mean the end of small cash payments in 5 years

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The Coming Cashless Society: How your mobile phone can be turned into a credit card – it could mean the end of small cash payments in 5 years

Daily Mail – Any mobile phone can be turned into a ‘tap and go’ credit card under a payment system unveiled today.Advocates of the technology argue it could mean the end of small cash payments within five to ten years. The system, which can be used to make purchases up to £15, involves sticking a smart card or PayTag – about a third of the size of a normal credit card – to the back of a handset. Read Article

Editorial Comment – Beware of a cashless society that is sold to you as a benefit to you. Once all your wealth becomes electronic, your obedience can be more assured as there will always be the risk that stepping out of line could mean you wealth disappearing at the mere click of a mouse.

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