Switzerland moves towards cashless future with instant payments

[Lilymoon]

Switzerland moves towards cashless future with instant payments

 

 

Switzerland's new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live.

 

The Swiss National Bank said around 60 financial institutions were now able to receive and process instant payments, covering more than 95 percent of Swiss retail payment transactions, following Tuesday's market launch.

 

"By end-2026 at the latest, all financial institutions active in retail payment transactions will be reachable," the SNB said in a statement.
 

https://finance.yahoo.com/news/switzerland-moves-towards-cashless-future-104139986.html
 

 

 

[Mr H]

Yes it looks like we're heading that way.

 

I was in Starbucks yesterday and paid by cash. Lot of eye rolling. Had to go to another room to get a key to unlock the cashier, lots of sighing....like a foreign thing these days.

 

Why generally I prefer to.buy stuff at markets as they all still love cash.

 

 

[jack121]

4 hours ago, Mr H said:

Yes it looks like we're heading that way.

 

I was in Starbucks yesterday and paid by cash. Lot of eye rolling. Had to go to another room to get a key to unlock the cashier, lots of sighing....like a foreign thing these days.

 

Why generally I prefer to.buy stuff at markets as they all still love cash.

 

 

Could just give up coffee along with all the other junk food crap they sell at starbucks.

 

If your money is not good enough for them then they take your business else where, you don't need them they need you

[k_j_evans]

10 minutes ago, jack121 said:

Could just give up coffee along with all the other junk food crap they sell at starbucks.

 

If your money is not good enough for them then they take your business else where, you don't need them they need you

Must say both Costa and Muffin Break are very happy to take cash. In fact, I ended up giving change to Costa as they didn't have enough. Since I pay cash for almost everything, I always have plenty of change.

[Captainlove]

If we lose cash and go to a CBDC system then what ever freedoms we had will be gone. Got to keep cash,i know its not great but i still believe its better than digital slavery.

[Mazthehobo]

It doesn’t help that half the cashiers can’t do simple math.

 

I was at Costa the other day (maybe the same Costa @k_j_evanswas at, though I didn’t notice anyone wearing a tin foil hat at the time..)

anyway my order came to £5.25 and I gave them a £20 and said do you want the 25p? The young lady just looked at me and said ‘umm it’s £5.25 please’.

 

But I do think cashless will happen. It might get a bit like the olden days where window cleaners would rather get paid 6 eggs and bag of crisps rather than card payments but I think otherwise cash will be a thing of the past.

[LastOneLeftInTheCounty]

5 minutes ago, Mazthehobo said:

It doesn’t help that half the cashiers can’t do simple math.

 

I was at Costa the other day (maybe the same Costa @k_j_evanswas at, though I didn’t notice anyone wearing a tin foil hat at the time..)

anyway my order came to £5.25 and I gave them a £20 and said do you want the 25p? The young lady just looked at me and said ‘umm it’s £5.25 please’.

 

But I do think cashless will happen. It might get a bit like the olden days where window cleaners would rather get paid 6 eggs and bag of crisps rather than card payments but I think otherwise cash will be a thing of the past.

If what your saying is true then this might signal the start of an underground, unofficial barter economy for those that wish to keep their transactions out of the digital ledger. 
 

I’ll trade you £50 of fresh produce if you put a new tyre on my car- type of thing? 

 

[Mazthehobo]

2 minutes ago, LastOneLeftInTheCounty said:

If what your saying is true then this might signal the start of an underground, unofficial barter economy for those that wish to keep their transactions out of the digital ledger. 
 

I’ll trade you £50 of fresh produce if you put a new tyre on my car- type of thing? 

 

I think so. It would make sense. If you grow your own tomatoes and know someone who has a chicken and eggs it makes sense to trade.

 

Its not much different to the drug dealings right now. I’ll get you some weed if you find me a new PS5 or a mountain bike. 
 

 

[k_j_evans]

14 hours ago, Mazthehobo said:

It doesn’t help that half the cashiers can’t do simple math.

 

I was at Costa the other day (maybe the same Costa @k_j_evanswas at, though I didn’t notice anyone wearing a tin foil hat at the time..)

anyway my order came to £5.25 and I gave them a £20 and said do you want the 25p? The young lady just looked at me and said ‘umm it’s £5.25 please’.

 

But I do think cashless will happen. It might get a bit like the olden days where window cleaners would rather get paid 6 eggs and bag of crisps rather than card payments but I think otherwise cash will be a thing of the past.

Ah, you won't hve seen the hat as I was in Muffin Break at the time and the Costa guy was trying all the cafes for change. I have noticed cahsiers going a very long way round to give change, though. I mean, reagraldess of the arithmetic, I was trained to count up to the nearest pound from the smallest coin and so on. So for 5.25 you'd go 5p to 30, then 40, 50 in 10s, then 50p to £6, then how ever many pounds. Even if you can't do arithmetic, it's pretty easy and shows the customer that they are getting the right change. But not knowing how to take 5.25 away from 20.25 is pretty poor.

[k_j_evans]

14 hours ago, Mazthehobo said:

I think so. It would make sense. If you grow your own tomatoes and know someone who has a chicken and eggs it makes sense to trade.

 

Its not much different to the drug dealings right now. I’ll get you some weed if you find me a new PS5 or a mountain bike. 
 

 

Well, earlier this year, I swapped 2 hours of hose pipe use for two cucumber plants

[Mazthehobo]

8 minutes ago, k_j_evans said:

Ah, you won't hve seen the hat as I was in Muffin Break at the time and the Costa guy was trying all the cafes for change. I have noticed cahsiers going a very long way round to give change, though. I mean, reagraldess of the arithmetic, I was trained to count up to the nearest pound from the smallest coin and so on. So for 5.25 you'd go 5p to 30, then 40, 50 in 10s, then 50p to £6, then how ever many pounds. Even if you can't do arithmetic, it's pretty easy and shows the customer that they are getting the right change. But not knowing how to take 5.25 away from 20.25 is pretty poor.

Yeah it’s amazing how a grasp of simple maths can go a long way.

The fruit and veg lady that I use prefers cash and is very quick at working things out. Maybe that’s another conspiracy, ‘the dumbing down of society.’
 

As for muffin break, I don’t have one near me. Shame really. 

[Mazthehobo]

12 minutes ago, k_j_evans said:

Well, earlier this year, I swapped 2 hours of hose pipe use for two cucumber plants

You got the better deal there.

Last one I negotiated was when I offered my time to help clear a garden to a house that someone was doing up to rent.

In return I got to keep anything that had been left in the garden and shed…

 

Luckily for me I knew the previous owner used to fix bikes. 

[Mr H]

15 hours ago, Mazthehobo said:

It doesn’t help that half the cashiers can’t do simple math.

 

I was at Costa the other day (maybe the same Costa @k_j_evanswas at, though I didn’t notice anyone wearing a tin foil hat at the time..)

anyway my order came to £5.25 and I gave them a £20 and said do you want the 25p? The young lady just looked at me and said ‘umm it’s £5.25 please’.

 

But I do think cashless will happen. It might get a bit like the olden days where window cleaners would rather get paid 6 eggs and bag of crisps rather than card payments but I think otherwise cash will be a thing of the past.

In the west I think we're more than halfway there. Hardly anyone I know pays in cash.

 

If you travel abroad to less well off countries you can see there is still a long way to go until a cashless society.

[Captainlove]

2 hours ago, Mr H said:

In the west I think we're more than halfway there. Hardly anyone I know pays in cash.

 

If you travel abroad to less well off countries you can see there is still a long way to go until a cashless society.

I run a my own business in the uk, and almost all my customers pay in cash. Only a few will not but also will mostly pay with paypal.

[Cassady77]

Last week I went into the city centre to buy my mate a birthday present. I fancied a pint of Erdinger which was poured then I put a tenner down on the bar and was told it was card only. It is one of Liverpool's finest pubs called the Baltic Fleet. I had to leave . Then I went to the Everton FC shop which nearly finished me to buy my mate an Everton mug for his sins. It was the same  and card only. I had about £80 in my pocket which I couldn't spend . Also. Last year I went to Aintree races with £300 in my pocket only to find out the bars were card only. Luckily enough my mate had his bank card on him so we could buy a pint. It's a joke !

[Mr H]

37 minutes ago, Captainlove said:

I run a my own business in the uk, and almost all my customers pay in cash. Only a few will not but also will mostly pay with paypal.

Awesome.

 

I've just set up business and exploring ideas.

 

Current thinking is to offer a barter option.

 

So under list of payment options I have a list of service I need of relative equal price, if someone wants to exchange that way, they can

[LastOneLeftInTheCounty]

Same here, but I’m cash only.

 

Sometimes customers ask to do a bank transfer, but I usually just give them the stare, then apologise.

 

If society goes cashless then there’s nothing physical in your hands to represent value, which means we’ll be reliant on electricity to charge our devices to participate in society, and even then they’ll be numbers on a screen that can be manipulated or closed down completely.

 

How many parties will digital currency go through until it represents value/your money? 
 

1- The issuing authority (bank or gov)

2- Their computer system

3- Their power supply

4- Your phone/internet provider

5-Their computer systems

6-Their power supply

7-Your phone/computer system

8-Your power supply

 

Whereas cash-

 

1- The issuing authority

2- The bank/cash machine

3-Their power supply

4- It’s in your hands, ready to use in society to barter/exchange anonymously for goods and services.

 

If it ain’t broke don’t fix it

[Puzzle]

Funny how they're more than happy to take cash off you when their machines go down though eh!

[k_j_evans]

4 hours ago, Mr H said:

Awesome.

 

I've just set up business and exploring ideas.

 

Current thinking is to offer a barter option.

 

So under list of payment options I have a list of service I need of relative equal price, if someone wants to exchange that way, they can

Make sure you don't reach anywhere near the VAT registration limit then. Those guys are vicious. And keeping track of VAT on money-less transactions is a pain in the proverbial.

[Captainlove]

5 hours ago, Cassady77 said:

Last week I went into the city centre to buy my mate a birthday present. I fancied a pint of Erdinger which was poured then I put a tenner down on the bar and was told it was card only. It is one of Liverpool's finest pubs called the Baltic Fleet. I had to leave . Then I went to the Everton FC shop which nearly finished me to buy my mate an Everton mug for his sins. It was the same  and card only. I had about £80 in my pocket which I couldn't spend . Also. Last year I went to Aintree races with £300 in my pocket only to find out the bars were card only. Luckily enough my mate had his bank card on him so we could buy a pint. It's a joke !

Don't use them find someone else.

[Captainlove]

5 hours ago, Mr H said:

Awesome.

 

I've just set up business and exploring ideas.

 

Current thinking is to offer a barter option.

 

So under list of payment options I have a list of service I need of relative equal price, if someone wants to exchange that way, they can

Yes i have thought about a barter option but cant think how i would get it to work.

[Cassady77]

57 minutes ago, Captainlove said:

Don't use them find someone else.

 

I do when it comes to pubs and cafes etc... The Everton shop was a one off mate and my first time in there . The races is a tricky one though I must admit . I go to Aintree every now and then and it's a great day out out with my mates with our hip flasks by the way :-) . The thing is as you know we are being denied choice ! So it's either don't go the races and have an great day out or confirm. It saddens me !