Cashless society seen in three years

[OJAS]

On my last trip to the UK a few months ago I was struck by the extent to which the Contactless method of payment had taken off since my previous visit, for paying for even a pint in the pub or a London bus fare. You just hold a card against a scanner for a couple of seconds to make the payment - with no signature or PIN entry required.

 

This has its attractions for me personally since it then avoids the risk of my being stuck with cash at the end of a UK trip which might be worthless by the time of my next trip thanks to the Royal Mint's habit of changing the design of UK bank notes with the same frequency as I eat hot dinners.

 

Unfortunately, despite all the brave words contained in the OP, I really don't see anything similar happening in a big way in LOS during what years I may have left on this great planet of ours....

[samsensam]

11 minutes ago, OJAS said:

On my last trip to the UK a few months ago I was struck by the extent to which the Contactless method of payment had taken off since my previous visit, for paying for even a pint in the pub or a London bus fare. You just hold a card against a scanner for a couple of seconds to make the payment - with no signature or PIN entry required.

 

This has its attractions for me personally since it then avoids the risk of my being stuck with cash at the end of a UK trip which might be worthless by the time of my next trip thanks to the Royal Mint's habit of changing the design of UK bank notes with the same frequency as I eat hot dinners.

 

Unfortunately, despite all the brave words contained in the OP, I really don't see anything similar happening in a big way in LOS during what years I may have left on this great planet of ours....

 

wa in the uk recently, saw people using contactless in london but for a small minority of transactions, elsewhere in the uk hardly saw at all. anyone thinking thailand will go anywhere near cashless in three years is living in cloud cuckoo land.

[connda]

What do you think Thais are going to do.  Put a debit card on the end of a stick or run their PromptPay enabled device over Buddha's belly?  These money trees are part of Thai culture and show up at any number of auspicious occasions.  Destroying the average Somchai's ability to celebrate like this isn't going to go down well with the masses, because not only are you messing with the culture, but also deeply ingrained religious traditions.  Three years?  I think not.

 

 

 

[ChiangMaiLightning2143]

What do you think Thais are going to do.  Put a debit card on the end of a stick or run their PromptPay enabled device over Buddha's belly?  These money trees are part of Thai culture and show up at any number of auspicious occasions.  Destroying the average Somchai's ability to celebrate like this isn't going to go down well with the masses, because not only are you messing with the culture, but also deeply ingrained religious traditions.  Three years?  I think not.

 

 

 

 

Play money can be used for such cultural displays.

I have an Octopus card for HK and a 7/11 card for Thailand. (Yes I refill by cash but they can be easily charged from a bank account also.)

 

Not a debit card, payment is instantaneous, cross a subway wicket without stopping walking kind of fast.

 

It would require everyone to have an account of some type, all payments would be trackable and taxable (overall a good thing). It would not eliminate crime and corruption but would be a boon for revenue. The crims would have to turn to foreign currencies and other methods to renumerate their illegal activities.

[Moonlover]

On 8/31/2017 at 0:40 PM, Beats56 said:

Ĺisten it will not happen in three years. Still can't use you debit card at  most stores and most old people haven't a clue. Here is a country  that still.uses carbon paper and dot matrix printers. This country has a long way to go to catch up to other countries.

 

 

The concept of a cashless society, even in a rural, agrarian and poorly educated community is possible. Not only is it possible, it has been proved to be possible. And just about everyone in this country has the tool to do it with and the skill to do so.

 

The M-Pesa system, pioneered in Kenya is a system of payment using a mobile phone. It is so simple that it is no more difficult than sending a text message. It can be used for just about everything, from paying your bar bill to paying off the taxi driver.

 

It has been so successful that even Masai tribes people have embraced it.

 

So never say never. It can be done.

 

 

[topt]

21 hours ago, Moonlover said:

So never say never. It can be done.

I don't think anyone is saying it is not possible - just that in Thailand it is very, very unlikely to happen.

The system in use in Africa was started, from memory, because many, many people did not have access to a bank account - which is obviously not the case here.

[Moonlover]

6 minutes ago, topt said:

I don't think anyone is saying it is not possible - just that in Thailand it is very, very unlikely to happen.

The system in use in Africa was started, from memory, because many, many people did not have access to a bank account - which is obviously not the case here.

Please go back through this thread and read again. You'll find plenty of entries that scoff at this idea in one way or another.

 

But back to the topic, yes you're right, a bank account is not necessary for M-Pesa system. All one needs a mobile phone account. But that's immaterial. A phone pay system like this can be used for micro purchases, such the noodle stand, the village store, bus fares. The sort of payments that wouldn't be in the realm of bank cards or bank transfers.

 

And everyone has a phone and knows how use it. That's the beauty of this system.

[Ace of Pop]

Ferang Teachers here are familiar with the Cashless Society.[emoji383]?


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