Terry Glenn is a cowgirl

Cashless society by 2012, says Visa chief

By Tim Webb

Published: 11 March 2007



Paying for goods with notes and coins could be consigned to history within five years, according to the chief executive of Visa Europe.
Peter Ayliffe said that, by 2012, using credit and debit cards should be cheaper and more convenient than cash.

Some retailers could soon start surcharging customers if they choose to buy products with cash, because of the greater cost of processing these payments, he warned.

Visa Europe briefed the British Retail Consortium last month on new "contactless" cards that can be waved in front of a scanner to make small payments.

However, the consortium dismissed this vision and claimed that card processing fees, which regulators are investigating, are still too high.
One member of the consurtium said that the estimated "interchange" fee charged to retailers amounts to some 4p for each transaction.
Nick Mourant, treasurer at Tesco, said: "There is a duopoly between Mastercard and Visa in the UK. Their setting of fees is anti-competitive."

http://news.independent.co.uk/busine...cle2347411.ece

BelichickFan

I hardly ever use cash anymore. Or checks. I probably write 1 check a month and use cash maybe 2 times a week, mostly if I'm buying something small and feel stupid using my card. Other than that, it's my credit card all the time.

DarrylS

I use my debit card for just about everything, somehow got involved with the TMX scandal last month and it was down for about 2 weeks felt naked to the world.

__________________
"Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.

wistahpatsfan

That's Great!
Now the government and all the retail corporations will know where I've been, what I've bought, and when I do everything!
I'm so happy!
Besides, cash has never been easy to use. You have to carry it, keep track of it, and if you have no money, you can't buy anything. What a hassle!

QuiGon

Peter Ayliffe is either lying or is a complete moron. Considering he is the chief executive of Visa Europe, methinks he is simply lying.

Retailers prefer you to use cash because it costs less. Anyone remember the old days when gas stations would charge you a certain amount for cash and a different amount - usually 10 cents per gallon more - for credit...? Those fees and surcharges aren't going to magically disappear, despite what Ayliffe wants us to think.

iguide

Yea. Let's make it easier for Big Brother to see what we all are doing. I got an idea why don't we put a little chip in the TV so they can watch us at home to. (*#($&$^#%@#*$_$$*^$@%$%@#&$)+) governments & liberals. They want to run us all.

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I am a citizen, I am armed and I vote. I have no malice, and I am compassionate to those that do not perpetrate against me.
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wistahpatsfan

Is your avatar Coki Beach, St. Thomas?
Completely agree with you, BTW, but you have to add "Corporate CEO's", who are mostly republicans.

DarrylS

Liberals really like the domestic spying, wiretaps and the rest of the stuff espoused by George and his crew (tongue and cheek).. come on now, thought spying on the US people was a favorite of the Right Wing.

__________________
"Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.

QuiGon

Do you have any sort of legitimate reference, or are you just making ***** up again..?

wistahpatsfan

That's right sh-t-for-brains!
Everyone knows most CEO's are liberal tree-huggers.

Go back to bed and try not to wake up so cranky this time.
Dumbazz.