Cards in part due to the coronavirus crisis. By car, from contactless. Oh yes, i card. But i dont, i mean im someone who prefers cash because it gives me a better idea of how much im spending. But because it 19 has changed that now i pay with plastic tops, im almost a shelf and you have to ask yourself, why do people want to abolish cash . So some banks have turned their backs on cash completely. They dont have any brick and mortar branches or a. T. M. s by the Cashless Payments are on the rocks. But experts warn were paying with our data. These are monster, monster card or axiom google facebook, twitter interfaces that surveillance capitalism. Cash is competing with Electronic Payment Systems. Could it get knocked out of the ring . A former head of interpol says it would be risky to apply cash completely. What happens if the russians choose off the system and who defends . The coronavirus pandemic has polluted Cashless Payments. Whos profiting and what price are we paying back for should just be a life without bills and coins . What might that be like in scandinavia . Its already a reality. These might decide to take the ferry, hire a car and go and find out. It seems safer to me than flying in light of the corona virus pandemic. In denmark, finland, norway, and here in sweden, in particular, cash has practically become a thing of the past. The 1st thing that i do after arriving is go in search of an a. T. M. In sweden thats not so easy. There are few and far between and then when i go to the newsagents to buy some water and peppermints, im told i have to pay by card. Do you think im going to meet till a german whos been living in sweden for many years and who works at the university . He cant quite remember the last time he actually held up bank note in his hand. Social distancing has become a habit for me, but my attempts dont really work here. At the moment, few people in stockholm are wearing face masks. Either. Were going to tills, favorite bakery, which has everything apart from a cash till. What shall we buy . I recommend if theyre good here. What are they there . Cinnamon buns made with cardamom. I can really recommend them. Ok. Very thoughtful. Picasa puts our pastries in a box and i get out my card to pay because he hasnt got a cash till. Look, us is surprised at my surprise in germany. Yes, your present job is still trying to catch up. Well, good for us. I guess. And they trust that somehow. Im not ever going to house. Everyone has a card or debit credit card trick we cannot pay by card. Theyre just really, i mean for me, very annoying going back. Yeah. Ok. Im now stocking up to go on walk around 5 blocks of again and 500 programs where its anything you can have as much money as you like. Its worth anything. You know mr. Lucas says that having no cash in the store is much safer for if you will get your cold. And if you want to steal over the concern for the good robots, i like that you have your say. So you dont have to grow up with cash. E. G. Use the cards, at least when it comes to paying people keep their distance. We take our pastries and go on our way to would like to buy some strawberries at the market. In germany, paying by cash would be the only option not to run for office but still doesnt the swedish way he just has his mobile phone with her. So hes going to use a payments app called swish. Its a much used swedish mobile Payment System. It transfers the payment to the traders, phone number or q. R. Code. A pop up graphic of a bursting bubble confirms its arrived and then you can it, ding. Whats the bubble for . It proves, its not just a photo, but im actually sending him the money. Im impressed but its not the quickest way to buy strawberries. It does take time. I says to our joe government side, oh yes, it does. Go by thank you. And swedish banks and Payment Services have almost based out cash completely. Most banks dont provide cash on it or its too much trouble and paying with Smartphone Apps is booming, especially among young people here. Transferring money from one mobile phone to another is as easy as sending a text message or an email. Here, money has become merely digital information. This also means that swedish Electronic Payment Systems can track most peoples financial transactions. Big brother is watching you, until can keep tabs on his kids spending. Behavior. Of course, still doesnt give his 2 children their pocket money in cash. Its all digital the system gives them a good idea of what his son miles is buying with his allowance of others can either concerts or i can see every transaction and the stores that hes visited, plus the times of purchase and the sums he spends each time you see, and do you see how much money you have . I dont know how, but that does. He can see how much money i have to get a few kind of sense if you have money left over. As it is us, this is not just for shop. I know that i have left when, but when i buy something for more than 20 krone, i kind of get the feeling that i shouldnt be doing that. Its yes, thats quite good. I saw that you stayed under 20 most of the time in general, but you went shopping pretty regularly. I dont know if you can see that really every purchase is listed. Im still in this one. It tells daughter lu only pays by card and occasionally uses a mobile app to say your dad can see what money youre transferring and what you buy a house. I think he can see where i shop, but not what i buy with the bank. After ive been cut and that doesnt bother you notice at the moment, but in a couple of years, i realize my cash isnt much use here in sweden. I wonder if paul even be able to spend that from now that i withdrew. But then i come across a little tight eating place in the countryside, where the owner is kind enough to let me play with real money. Right out front is sweet in the shape of things to come up future in which cash is a thing of the past and every payment for everything we buy can be traced and tracked. In germany, things are changing dramatically. Since the emergence of the coronavirus, the number of people paying by card has increased by 26 percent. Is germany following swedens lead. I want to ask you knocking on level a harvard lecturer and Research Analyst at deutsche bank. The french economist has conducted a study recently on the subject. Do we have to say goodbye to cash . Its not yet a just yet. But whats when the, just since the beginning of the year on this fishery since the chronic crisis came, gushing 2nd edition has diffused the increased because its wants, you know, that the safe event stalls that you and full of High Frequency dont guess as a means of they meant it has deficiency, decreased less honest people in i guess in december a further of people used to because that less in germany. And today, i mean, you know, hes most known, hes 50 abreast on up. In the case, many germans are abandoning cash and switching to card payments because of the coronavirus. Other countries have gone even further. South korea to china, we decided to call, untied an event, destroyed bank notes. And just one more example is the us defended this idea to crown line banks. Nuts coming from is to make sure it was safe is its reasonable. The risk is very low. But very personal of you. How do you pay everything by contact lists, and to see the same . And i mess that. Im putting cash into quarantine, burning bank notes, going cash free. It all sounds a little crazy to me. Is the virus changing our behavior . Just to sense the spread of . Ive got used to paying by card. I used to always have cash on an easel, so its not so cheering the pandemic. Its recommended. We pay by College Greater risk of catching cold if you use cash. But is that really true . In berlin, im going to meet one of germanys top money men, the executive board member of the bundesbank responsible for cash management. I want to ask your highness bama whether bills are coins, can spread kobe bryant, teens, and whether germany is likely to go cash free. And on time soon, many people are afraid that cash could carry the coronavirus because come and see it is risky. What do you think is there research on this . I would say thats been sufficiently disproven. If you look at the bank notes like the 5 euro or 10 euro bills here, which are in particularly heavy circulation, and they have a special coating. We know from research that bills and coins dont play any role in the spread of infection or the kind of ornish you think stopped using 500. 00 euro bills last year. Critics call them impractical. They were also linked to corruption and Money Laundering. Is that the crux of the matter, theres an initiative called better than cash thats calling for cash to be abolished. They say slush funds are a problem. Money laundering big sums that declared to the tax authorities or the state im stopped by most of course we have to combat Money Laundering, tax evasion, and the financing of terrorism. And i think cash has to be monitor as should other Payment Methods that we have to ensure that. But i dont think that this will vanquish the underground economy and question the shop and your trust as i ask them on a cash has seen its day. He says he doesnt believe that cash is about to be replaced by cards or mobile apps any time soon. Its estimated that the german state loses up to 10000000000. 00 euros in tax revenue each year as a result of cash in hand payments. One particular problem, the high cash turnover in the Restaurant Business for lins finance senator complained in 2019 that up to 80 percent of revenue in this sector was not declared to the tax authorities with her organic produce and great location. Ziva doesnt need to resort to low wages, cutthroat prices, and cash in hand payments. But she knows these practices arent uncommon in her trade. It goes like this. I implore you to work on a 401 month basis with 0 tax or insurance deductions. In theory, you should work 40 hours a month for 10, your is an hour. But in actual fact, you work 40 hours a week and get paid 400 euros a week. Cash in hand. But you only registered as having a 400 euros help with the author. So the state loses out. Yes. When i buy my french fries at a budget, supermarkets, an identical. How do you mean . Well, i buy them, but i dont submit the receipt as an expense. I throw it away. So the tax office cant estimate what you might have earned. Thats right. They dont know what amount of french fries on electronic cash tills. Mandatory receipts and other types of monitoring are helping to eliminate such practices. Zebul pays your employees more than the minimum wage, and its all above board. And fewer and fewer of her customers are paying in cash while just a year ago, only one in 10 payments were by card. Now its almost one in 3. She welcomes the development tools, but side Cash Payments were real boon for us there on 20 disadvantages. We dont have to gather up the cash and take it to the bank every evening. Its become far too dangerous and you cant give anyone the wrong change. Were glad when people pay by card, to be honest, told us to go out on a cart about science because whenever i pay by card, i leave a digital footprint for every beer and back of french fries that i buy. But whos interested in this information and why . And what repercussions does that have on our everyday lives. Diaz, university of economics and business is the Largest University of its kind in europe. For many years, professors are fresh speaker, man has been researching how our Financial Data trails are observed and analyzed. She says, credit card information and data from Electronic Payments are beating an industry of data brokers like the top one time. We know that Credit Card Companies pass on this data in the mean time, they can observe everyone in real time via all the Digital Media that they use to create large scale profile ice. How its almost become normal to have surgery, 240000 pieces of data on each person. And with this High Resolution history, they know what you do, the routes you take, what you guy, what you pay for way you go on vacation, how much you pay. They know it all. Human bad side. How much alcohol you drink before i want, how much alcohol you drink . You can calculate those kinds of things to you and so much information to the highest bidder that weve analyzed. For example, how oracle blue kaya has described collecting 30000 user attributes from 200 data vendors, which would allow them to create the profiles of 700000000. Well, thats probably the entire western world, and best in her bed, think of the entire western world. And if we look to see whos providing that data, these are master card or axiom google facebook, twitter interfaces that surveillance capitalism. Surveillance capitalism involves hundreds and thousands of companies with Data Exchange agreements working together behind the scenes. As a result, data about our payment behavior is increasingly determining our everyday lives without seeing or comprehending what is going on. We can feel the effects, not just when we are shopping, just us, ordinary people, people who are quite similar to each other might find themselves paying different prices for flights, hotels, all kinds of things. Or they might be refused insurance or passed over for a job offer. They might find all those negative things happening to them and put it down to bad luck or fate. When in reality, its the result of databases making some sort of prediction about them. And people behind the scenes are earning money to create these profiles of people. Its disgraceful the Payment Technologies are developing rapidly. While we feel that we are at the cutting edge here in europe, if we pay by Smartphone App in china, chinese and u. S. Companies are testing smile to pay facial recognition technology. To get into the storage of facial scan lets you enter a store and pay for goods a i can recognize the person and their credit rating, but it can do more also detect emotions and social affiliations. It can also tell whether someone is under stress or might be coming down with something. And then that i am less if i pay with a smile and i start to connect a smile to economic transactions and this habit will also leave its imprint in my real world. I dont think we really want those kinds of associations to develop. Also side tea and social interactions would become slightly commercialized. Comments hes speak among would like cash to be retained and not only for Data Protection reasons. This told him say, its not how it can be rapidly, not town to ask mit systems. Its a matter of security, we need a concrete backup. We still need cash for security reasons. One, as pain becomes increasingly easier, contactless and perhaps more hygenic. Were giving away more and more information about ourselves. Ill probably never know exactly what Companies Know about me. Why are banks interested in what i buy . Where and how much im going to visit and 26. 00, and up and coming mobile bank to find out the berlin, headquartered app, only bank is growing rapidly, but its already faced a fine for breaching Data Protection laws. As well as criticism from germanys financial regulators. Chinas tech giant 10 cent owns a big stake and 26. I mean in georg how a general manager for germany, austria and switzerland. Because i want to ask him whether smiles of pace will be coming to us anytime soon, just to see if some good things at the moment. I cant really see that smile to pay or other chinese products will take hold in germany. But other innovations will be introduced into the german market. Its quite clear that Cashless Payments are on the rise and some form of the union and 26 prefers to let other banks do things like keeping reserves of cash. Prefer right face to face Customer Service and maintain brick and mortar branches to the fin tech startup. Its a digital bank. The company would like us to use our mobile phones to manage our finances the most you can see it right off the shelf. How much did you spend on clothes shopping . How much did you spend on insurance this month or on eating out was hard. What were your Household Expenses back . Couldnt do customers feel that their spending behavior is influenced by this . Thats a hit was agony. And i think it hides when you pay electronically, you can monitor more closely what youve spent. Then when you pay by cash, its hard to say a month after youve spent 50. 00 euros in a shop and you no longer know what you spent that money on. If you, if you make an electronic payment, you know exactly what you bought last april. Thats nasty. As Data Protection is important to the e. U. To use a bank share that concern that we give the customers this data. Its an automated process. That means that none of our employees see this data, it can only be accessed by our customers, was every year being able to manage your finances, better does sound like an advantage. But doesnt really matter to me what i spent, where last april. And im still worried about what happens to my data and who has, access to it. The Berlin Company called bought solid d. , is taking a different approach. It offers a modern Payment System that doesnt leave behind data trails. The name might mean pay by cash, but its not as old school as it sounds. Rather, its a kind of digital analog hybrid. Not everyone who wants to pay by cash is tech averse. To get this all kind of theres a big group of people who want to use cash in a digital context because they dont want to reveal their personal data online. Cash has many advantages. Its flexible and anonymous. I dont need to own a car dealer, i dont need to be a customer somewhere in the World Without any cash. That would mean that europe and germany would be dependent on the 2 big us Credit Card Companies that control all our payment transactions. Do i really want that . So how does