This week Go Cashless, the not-for-profit organisation that aims to promote the end of cash by December 31st 2020, has launched a crowdfunding appeal.
Go Cashless, which is supported by the Emerging Payments Association, argues that “Cash is no longer needed as many new secure payment methods exist with many more systems emerging.” It says that notes are used in criminal activities because it is can be counterfeited easily and is untraceable. It also argues that no legislation is needed to bring about the end of cash, just “the willing cooperation of stakeholders”.
Jon Levenson, Go Cashless Campaign Director says:
If cash was invented today who would think it was a good idea? There are many new secure payment systems with more emerging, some will suit older people, charities and under privileged people. Children can now have bank accounts and e-pocket money.
He goes on to argue that the cashless society has begun, saying London buses no longer take cash, and supermarkets such as Waitrose have recently opened their first cashless store. Public parks around the world such as Center Parcs are going cashless and, Leveson says more businesses will follow.
“No legislation is needed, just the willing cooperation from everyone to cease paying, trading and saving in cash,” he adds.
Loot, the smartphone banking app aimed at helping millennials stay on top of their finances, has finally launched this week and started to open accounts of the 25,000 people on its waiting list.
For al the joys of giving your loved ones gifts, the process of buying said gifts is a source of much stress, according to new research from Barclaycard. The card issuer found three quarters (72%) of the British population get stressed while Christmas shopping.