Dont forget you can always get d. W. News on the go just download our from google play or from the apple store ill give you access to all the latest news from around the world plus pushed educations for any freaking news can also use the v. W. Up to send us photos and videos. So i use or no we have much more for coming up for you coming up at the top of the next hour sumi will be with you then thanks for watching. Paying without cash is fast becoming the norm. I pay even tiny amounts with my card or does its just easier and its becoming easier knees or. Will cash soon be a thing of the past. When i think about it i paid more without cash and with. We cannot. Have more. Around the world financial corporations politicians and leading economists working to do away with. I see a future where you will be able to hold i judge it all euro digital dollars to rack wait at the central bank. Who stands to profit from
a World Without money and who will be third losers. Without susan ashley many people would have problems getting their hands on money here in the socalled swabian alps a rural part of south west germany she drives out to villages that no longer have a bank or cash machine to death i go in when i started my training at the bank was still opening new branches. I never thought i would end up providing my customers with money and other Banking Services in this way they condemn it guy dont ever done up until sliced off the. Money van serves the outlying areas around the town of hide behind she has specially assigned stops where she parks and then sets up shop. This bank on wheels provides the usual over the Counter Services it has an a. T. M. And a machine for printing Bank Statements many here are fed up that they have no bank in their area. That would be much better young people like me can use Online Banking but i still need cash. Inputs if youre just going to register theres no other option in this area any more theres nothing and this will this is this is probably just a temporary measure for the next few years all the banks are closing down branches this is happening more and more theyre forced to save money and windows so this woman said. Just a few kilometers away from haydn hi im is the town of health and things. The local
bank closed here in twenty seventeen and helping think them is not served by a money van. Anyone needing cash here heads to a local in called the ox and. No having come in to bad times. You need fifty euros cant afford more. The manager uses his card reader to debit peoples accounts and pay out cash to anyone who needs it. He set the limited Two Hundred Euros after all hes not a bank he says. Dont these traders sometimes we go somewhere more discreet to pay out the money its up to the individual some people dont want others to see that theyre taking out money displayed are still here what is new wanted. Cash on tap so to speak. To. His customers certainly appreciate the service. As they help this id rather have
the physical money in my hands. Yeah thats right you can get a watch now to pay for things or transfer money itll even give you a receipt able lazy or otherwise wisely all this is just the beginning if youre from. A World Without cash in sweden thats now all part of a reality whether your buying a ticket for the tram or pass. A meal at a restaurant or cafe. Paying for the parking lot. Or even the public bathrooms. All you need is a card on mobile phone. Weve
come to a flea market in the center of stockholm theres the usual array of bargains most of them can be purchased with very little interest but you soon notice that virtually every stand has a sign bearing Mobile Phone Numbers and often a name to. It. If you find something you like you just put out your phone and swish it sweetens very own mobile Payment Systems. For a couple of pounds for my system this one rests at sixty costs about it. Yes it will always post or. Like this case its just really good. Question. So how does this wish walk. Says basically you just need
a persons phone number so you type in that persons phone number and it pulls in almost like who the person is that it belongs to and then you will just like if somebody wishes me i would get a notification that the money is on my account. That. Swedens banks got together to launch the services a joint initiative the aim is to simply find payment and cut costs. I never use cash from my view if you can be complete. I mean i think that would be good i hate having cash on me they just disappear if you have it in pockets sometimes i even throw them in the garbage because i dont know whats good. For them the prospect of cash disappearing completely doesnt bother most people here. Most of the cash that exists today they dont exist. So i think were already there and. When individuals using. Physical money thats
a very tiny small step in this whole process which has been going on for a long time and. Theyre all dissenting voices bought there be exception im forced to. We cannot use cash money as we know animal or at least theyre very little to what they think its a way. To use my car i would choose for myself what i would use not least i dont want to use a podium because i dont know the people who work here and i feel not safe to use my car especially not my credit card. And. A world away from the Big City Lynn Runs a gas station on one of swedens countless small islands. And. She still accept both cards and cash any. Way would say i prefer the credit cards if we try to keep the cash amount as low as possible we have this safety box here but if theres also a risk with the cashier am. But. If i see as much or at the expense on handling the cash is now higher than my Credit Card Expenses and. Yeah i would say i prefer if they use rick perry. Once a week lynne counts up all her cash takings and fills out forms the banks in her area have long stopped accepting cash. Every time she brings notes and coins to the bank she has to make a special Trip Depositing hard cash is inconvenient and expensive but withdrawing cash is even worse the bank charges her. Nearly Two Hundred Euros. Have been times
each year we are winning to take out change and it cost me last time a bad price for us getting callings and i and i get them out i took out clients in isnt the same at the same amount of money say and it costs me quite a lot hearing it here. She drives more than half an hour to get to a place that accepts cash its basically a deposit box for each bag of money she pays a fee of twenty euros so not surprisingly lyn can hardly wait for cash to disappear. The main beneficiaries of this development are located on the other side of the atlantic conventional Credit Card Companies like visa and master card but also new
payment Service Providers like google or apple and amazon the online retailer has now opened a number of supermarkets without checkout customers simply scan their phones at the entrance after that cameras track want items they select facial Recognition Technology allows the system to identify each customer and build their credit card as they leave their receipt for their purchases then appears in the amazon go app. No cash its a trend thats growing in popularity worldwide last year visa ran a campaign in which it offered fifty restaurants Ten Thousand Dollars each if they agreed to stop accepting cash i dont know if michael ryan wasnt able to apply as his restaurant had already gone cashless ago we dont. Ive been in this business
a long time and i feel like. Theres a lot of stuff when you have cash around so when theres cash in the safe downstairs in the Office Behind the counter everyone is dipping in everyone sharing be sure you drop another employee theres cash always goes missing such as look at this eliminated after so that thats off the table but more importantly its like today i was late to work the place can still open because they dont need to go to the safe get cash set up the store you can just arrive and open up so its from an operational standpoint its a breeze its super super. A World Without cash is not the kind of world brett scott wants to see he used to work as a financial broker now hes a writer he believes preserving the ability to pay with cash is vital cash doesnt have anybody here to protect to to advocate for it but this is a its like a public utility so you have on the one side these highly motivated commercial
entities and. Other hand you have care she doesnt have anybody who everybody uses it but nobody doesnt have an official Spokes Person or doesnt have a Marketing Departments so its a kind of an unfair battle. He came over from britain to attend a conference at Columbia University in new york the question on the agenda here is this the end of cash as the majority. Of the conference brought together a select group of Financial Experts from around the world none of them believe cash stands much of a chance anymore but brad believes the current trend is a mistake. The best analogy to understand this is to think about cars versus bicycles. If youre living in a world where theres only bicycles actually maybe to be a good thing to get a car you can travel further you can travel faster thats different to saying you want to get rid of the ability to use bicycles actually what you want to the world where you have. Different forms of transport in
a similar way you want to world where you have different forms of payment so sometimes in certain situations you can use cash sometimes surgical but these guys are not calling for that they saying we want to world it is only digital or in the Transport Analogy only cars youre only allowed to use cars. When hes travelling brett sometimes pays by card but he mostly prefers to use cash. This machine does accept cash in theory only right now it appears to be on strike. And might force me to use for. It at the swipe of. Its going to send a message to my bank in england and told a bunch of stuff to them theyre going to alter all their databases before i can get this thing here. And theyre going to log this and all the bill to see this so now theres this third party is going to watch what im doing. First machines
forcing me to do it but i know youve got it. So what role does State Of Play in the whole drive to go cashless. Back in germany at the university Of Seguin Economics students are wondering how safe Digital Payment systems are could we become completely transparent just by doing our shopping. Where Companies Know everything about us. And ill hit a smile every time i think i know who all my data be passed on to now. Well it
depends on what website you are on but often things happen very fast and he has no choice but im kind of admitting that when i think about it i pay more without cash than with but thats just the way things are moving somehow. Believe me and we live in europe where we have strict Data Protection laws so i tend to just be trusting and take the easy way out and im for that aspect theres also this aspect that everyone does it so you think it cant be that bad if its so widespread i think thats a key aspect aspect right now germany is still very much a society that likes cash but the example from sweden shows how quickly things can change this isnt a must for going idea its an issue for two reasons firstly because in many cases you have no choice which takes some getting used to for people of my age. But secondly it raises concern because were losing an element of freedom here were allowing ourselves to be monitored. At the University Canteen students have always
paid for their meals in cash first they purchase of power then they collect their food. But here too things are changing. So youre paying cash so you know students can now pay with an app on their smartphone. That theyre. So youre paying with blue care ok. You still have to check their plates to make sure youve got it right up my sleeve. And what you need to charge for i dont know im on one hot part ok. As long as theyre ready its super fast. Its money its going to affect this so want to the students think and you said look i thought it was city easy and it really saved time yeah but we were just saying we didnt know just how much it cost. The after doesnt show you that the
money is just deducted straight from your bank account so i have to look at my bank up to double check how much i just pay it and then in human side is that they might get rid of the person that sells the Food Vouchers Tickets so theres a question of jobs but ok thats a separate issue and i believe that the. Contactless payment is not yet an issue in Suzanne Ashley has money back. Then from which she believes thats a good thing every day she sees how many older people already struggle with doing Bank Payments online or negotiating a. T. M. Im hoping you would like to thank you for helping i take your time it was because you made a mistake before that the card recorded it but weve deleted that now sits a k. Got. Me to. The place if youll need help i dont like machine. I dont like using the machine
i dont trust it all the modem i did. Was not so that helps our customers when she can. A Cashless Society is inconceivable to many people here. The customers want cash they just cant imagine going to the bakery of the local markets and paying with a card. Thats really history obviously there are pros and cons but if the customers want cash then theyll bring it to them and bring it. Back at the bank itself in the town of hide behind stuff have to deal with huge amounts of coins and notes. The germans may still love their cash but the figures recorded by the banks tell a different story. Customers are drawing up less and less money meanwhile the bank says the cost of keeping all the cash on hand is huge. Even given. As produce quite a few turns worth mature they put together over One Hundred Twenty Thousand rolls of going to a year using our machines my goodness thats a lot and weve got. That incurs costs which the banks cant cover through the fees that the customers pay but once in. Our basement where we keep the money we generally have two employees working full time and so personnel costs alone are around One Hundred Thousand Euros a year thats just been at the cost of materials to be much paper the machine no electricity Maintenance Service costs meeting with in syria the rent for the room as well. As money is an expensive product which again it is an. Overall the cost of banks amounts to billions of euros each year but thats not the only issue threatening diffusion of cash. The European Union is also playing its part putting limits on Cash Payments and threatening to do away with large euro notes is cash fast becoming a museum piece. Not at all says germanys central bank box the man in charge of Cash Management at the borders. Bank freely admits things are changing. People in and out interests not going to do theres a clear agenda going on here and we mustnt be fooled by that were talking about a lot of money and instrumental companies are in a lot from the noncash instruments like a credit card human people dont talk about that much group of but theyre happy to talk up the cost of cash and here again Muslims Dont Reveal is good news that nonCash Payments also cost money us in baba toms instrument of course because for
time in going to fish being. Credit Card Companies like visa and master card as well as Online Payment Services like pay pal and the German Company pay direct and their money by charging fees for each transaction. In germany alone there are over Twenty BillionPayment Transactions a year by credit card Online Payment Service its a global goldmine yielding over a trillion euros a year. Kenneth rogoff is a professor of economics at Harvard University and a former Chief Economist for the International Monetary fund he says having your cash system also aids crime and tax evasion. I think its not that cash is bad and we should always have it but large notes the days when we need them are bought and mostly theyre not used for anything good even in germany
a lot of the businesses that only take cash thats for a reason theyre you know not paying all their taxes people want to get payments and perhaps they dont want to pay taxes in some cases dont want to have regulation and i think the balance is shared where more and more cash is use for that purpose and not so much for illegal activities wrong golf wants to see a world where there are only coins and small Denomination Bills for every day use he believes all large payments should be made electronically so they can be monitored. It should bother the government that theyre printing these large bills and they dont know where they go it should bother us regulators that many apartments in New York Los Angeles miami sell for buckets of cash i mean really is t