Bank of Thailand moves against cash and the US dollar in a plan to reduce cash in half by 2026

[Bangkocker]

4 minutes ago, Bangkocker said:

No ????? Those retards as you put it, have been maintaining finger print scanners in the airports matey.

And they can call on big brother Xi to help them out and give them the wherewithal. One day Thailand may become Chiland.

[Laphroaig27]

On 11/16/2022 at 11:23 AM, daveAustin said:

Cash is simple compared to the systems they have in place here, but with Applepay I’ve not needed to take my wallet out for like weeks on end. Fantastic system esp when you have facial recognition enabled. It was a major drag coming back here and seeing they hadn’t adopted it yet. 
Get yourself a smartphone bro, they are easy. ????

I left the Apple ecosystem when the IIci was replaced by the Quadra. The corporation would be dead were not for the phone. Always underpowered and overpriced.

 

Irony, Apple a cheerleader for most closed OS, payment system and control of DRM in the tech sphere. Only PayPal I dislike more.

 

It's not about being a Luddite but rather about safeguarding ones privacy which apparently you have little to none left.

 

And what if that small point about using an overseas payment for Thai transactions?

 

Thailand has digital transactions. Digital money is something else entirely. I'm certain that digital money will have entirely differing issuing requirements and as it's been stated before digital money - you can be cut from the system and disallowed to spend and potentially earn money. Digital money can be turned off.

[Mike Teavee]

9 hours ago, Gweiloman said:

For debit cards, you would need a card reader as well as some form of connection to the bank (landline for eg). How is the vendor in an open air market going to manage this? QR code is much easier.

+ the merchants charge (IIRC) 3% for the "Privilege" of having one of their POS terminals. 

 

 

[jacko45k]

9 hours ago, Gweiloman said:

For debit cards, you would need a card reader as well as some form of connection to the bank (landline for eg). How is the vendor in an open air market going to manage this? QR code is much easier.

Connection to a bank can be made wirelessly, and it isn't so much a card reader required as a contactless payment device about the size of a mobile phone. In fact mobile phones will likely be able to do  the job at some point. Look for the   sign.

[ThailandRyan]

32 minutes ago, jacko45k said:

Connection to a bank can be made wirelessly, and it isn't so much a card reader required as a contactless payment device about the size of a mobile phone. In fact mobile phones will likely be able to do  the job at some point. Look for the   sign.

Card readers are readily available for cell phones. Contactless payments can be done as well. 

 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.mastercard.com/global/en/business/overview/start-accepting/tap-on-phone.html&ved=2ahUKEwjClevS-rj7AhUHZWwGHQs9DwQQFnoECBkQAQ&usg=AOvVaw2qgHZ5H9QtBJcceiA6gVNw

[Gknrd]

14 hours ago, Gweiloman said:

The QR code payment system is the best thing since sliced bread. I don’t ever need to go the bank to deposit or to withdraw money. There is no chance my staff can “lose” the money from a job they have done (gardening services). I can balance the books every night without having to touch used and sometimes soiled bank notes.

 

 

I have a business that I started.. I am collecting all those nasty soiled bank notes from people.. I will PM you my mailing address...

[Gknrd]

Off topic but this is one of the best videos of crypto and FTX digital bankruptcy I have seen..

 

[Laphroaig27]

1 hour ago, ThailandRyan said:

Card readers are readily available for cell phones. Contactless payments can be done as well. 

 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.mastercard.com/global/en/business/overview/start-accepting/tap-on-phone.html&ved=2ahUKEwjClevS-rj7AhUHZWwGHQs9DwQQFnoECBkQAQ&usg=AOvVaw2qgHZ5H9QtBJcceiA6gVNw

A solution in search of a problem.

 

Costs money, prone to break, carry clutter about, probably less than seamless experience.

 

Yeah, thanks I don't need _______ that badly.

[sezze]

On 11/16/2022 at 10:03 PM, Mac Mickmanus said:

Why would that bother you ?

It does not bother me right now , since i do not do anything illegal ... ATM . What is there is a different government , with different laws , not only in that time but also looking back in time ? Naah won't happen ... you sure about that ? A regime can change , and they can also change for the worst possible . You think companies like facialbook and google are collecting and selling your data because it is cool to have data ? You think governments do the same because they do love you soo much? Not so long ago Thai government wanted to hand out tracking bracelets to foreigners in the country .... all cool all good ?

[ThailandRyan]

6 hours ago, Laphroaig27 said:

A solution in search of a problem.

 

Costs money, prone to break, carry clutter about, probably less than seamless experience.

 

Yeah, thanks I don't need _______ that badly.

Never had an issue using it when my contracted jobs needed to pay me, scanned and uploaded.

[whiteman]

Just wait till they tell you what you can and cannot buy or say for the access to your own money.  Big brother will be watching don't do this or say that or we will freeze your card and access.

[ThailandRyan]

Wow, so many people in panic mode and living in conspiracy land it appears.

[ChrisKC]

1 hour ago, ThailandRyan said:

Wow, so many people in panic mode and living in conspiracy land it appears.

Hear. hear to that one!

[csmith]

On 11/16/2022 at 7:10 AM, OneMoreFarang said:

Will the girls have in the future QR codes with their bank details instead of numbers on their bikinis?

And how should I explain that to the wife?

Difficult times!

 

They already do in Thailand …. It's called “Prompt Pay” …. and kudos to Banks & Gov for setting this up …. easy,quick,no charges and convenient.

[ChrisKC]

On 11/19/2022 at 7:34 AM, Gknrd said:

I have a business that I started.. I am collecting all those nasty soiled bank notes from people.. I will PM you my mailing address...

Better you give us your full bank account details; don't worry, you can trust everyone on this forum!

[Peterphuket]

And this is what I found today

[Peterphuket]

4 hours ago, ThailandRyan said:

Wow, so many people in panic mode and living in conspiracy land it appears.

Sure?

But what do you think of this?

[ThailandRyan]

10 minutes ago, Peterphuket said:

Sure?

But what do you think of this?

How many already are using the Crypto Currency blockchains to move money is the bigger question you need to ask yourself.

[Peterphuket]

22 minutes ago, ThailandRyan said:

How many already are using the Crypto Currency blockchains to move money is the bigger question you need to ask yourself.

Go to the website and convince yourself, it's a start but assume it goes much further and will not ending anymore, so yes I understand "why so many people in panic".

[ThailandRyan]

4 minutes ago, Peterphuket said:

Go to the website and convince yourself, it's a start but assume it goes much further and will not ending anymore, so yes I understand "why so many people in panic".

However, there is no need to panic, your money will not just evaporate in thin air, and you will not be cut-off.  Sounds like to many people believe the conspiracy drivel and wear Tin-foil hats.  Technology is such that all transactions are recorded somewhere and your money can be tracked already, unless your mattress is stuffed with cash like my old great grandmother did as she did not believe in the banks after the banks started crashing crash in 1920 and continued until 1933. I mean we also had the savings and loan crisis in 1989 and before she died she pointed that out as well........so it appears some folks do not like the governmental systems.  My father had over 100 gold Krugerrands, silver ingots, as well as loose diamonds in his home safe and safety deposit box at the bank as well as the keys to his Crypto storage, yes a 75 year old man had Crypto.  When he died I had to liquidate the holdings....that was a headache as the executor and Trustee.

 

Why do you think the US Feds and the IRS have put so many banking controls out there.  Annually I have to do my FBAR report for all of my bank accounts.  I could care less what they think, if they were interested in me then they can have a go at it, yet they can not even handle investigating people high up.....

[Barefootknobby]

Once this becomes 100% we are doomed

[edwinchester]

Not surprising that the banks are pushing for everyone to use digital payments as they will get a percentage of every single transaction. This is not some philanthropic suggestion but motivated by the greed of already rich institutions. The cost, as always, will be transferred to those using their cards and smartphones.

[Mac Mickmanus]

9 minutes ago, edwinchester said:

Not surprising that the banks are pushing for everyone to use digital payments as they will get a percentage of every single transaction. This is not some philanthropic suggestion but motivated by the greed of already rich institutions. The cost, as always, will be transferred to those using their cards and smartphones.

Aren't the transactions free and the banks don't charge for them ?

[josephbloggs]

3 hours ago, edwinchester said:

Not surprising that the banks are pushing for everyone to use digital payments as they will get a percentage of every single transaction. This is not some philanthropic suggestion but motivated by the greed of already rich institutions. The cost, as always, will be transferred to those using their cards and smartphones.

What are you talking about?  There is absolutely no fee for them, the banks take nothing, there is absolutely no cost to the consumer at all.

[it is what it is]

3 hours ago, edwinchester said:

Not surprising that the banks are pushing for everyone to use digital payments as they will get a percentage of every single transaction. This is not some philanthropic suggestion but motivated by the greed of already rich institutions. The cost, as always, will be transferred to those using their cards and smartphones.

consumers paying to make a digital payment? i don't think so, digital payment would end up dead in the water

[Mac Mickmanus]

1 minute ago, it is what it is said:

consumers paying to make a digital payment? i don't think so, digital payment would end up dead in the water

Or if a bank began charging for transactions, people would just move to a different bank .

   Banks also benefit, because they don't have to keep moving wads of cash about (from shops to banks safes) 

[talahtnut]

Yet another nail in the coffin of the once mighty Dollar.

Thailand goes for QT, they're not messing about, while

taking a step towards CBDC following the master plan

of the NWO total control.  

Its not looking good for those with heaps of cash.

[jacko45k]

8 hours ago, josephbloggs said:

What are you talking about?  There is absolutely no fee for them, the banks take nothing, there is absolutely no cost to the consumer at all.

I pay an annual charge for my ATM card and am subjected to charges if I use it outside of my region. Not 'absolutely no cost' really. 

[edwinchester]

11 hours ago, Mac Mickmanus said:

Aren't the transactions free and the banks don't charge for them ?

Banks charge the retailer when they accept digital transactions. This cost is passed on to the consumer.

[Mac Mickmanus]

55 minutes ago, edwinchester said:

Banks charge the retailer when they accept digital transactions. This cost is passed on to the consumer.

So why is the price the same when you pay by cash ?