Cash Might Be King, but They Don't Care
Found on Slashdot on Tuesday, 26 December 2017
Cashless businesses were once an isolated phenomenon, but now, similarly jarring experiences can be had across the street at Sweetgreen, or two blocks up at Two Forks, or next door to Two Forks at Dos Toros, or over on 41st Street at Bluestone Lane coffee.
Not surprisingly, the credit card companies, who make a commission on every credit card purchase, applaud the trend. Visa recently offered select merchants a $10,000 reward for depriving customers of their right to pay by the method of their choice. A Visa executive described this practice to CNN as offering shoppers "freedom from carrying cash."
You don't want my money, I don't want your products. Thank you very much for giving me the freedom from being monitored. Going cashless sounds like a hype, but it's much more likely an astroturfing campaign. It may sound convenient if you just need a piece of plastic, but in the end you give up the control over your money and finances. $0.01 or $10,000? Same swipe. Accept the coming negative interest because you cannot withdraw your money. Be prepared for even more targeted advertising because credit card companies will sell your transaction history to advertisers for even more profit; and who knows, maybe your next employer wants to see such a history too to determine if you fit into the company.