The End Of Cash Is A Step Closer
I used to work for banks. Now I write about them, and about finance and economics generally. Although Achat Kamagra Pas Cher I originally trained as a musician and singer, I worked in banking for 17 years and did an MBA at Cass Business School in London, where I specialized in financial risk management. I am also Associate Editor at the online magazine Pieria and a frequent commentator on financial matters for the BBC. And I still sing, and teach. After all, there is more to life than Testosterone Propionate 2 Week Cycle finance.
London''s buses have gone cashless. From July 6, you can''t use coins or banknotes on buses you can only use London''s " Oyster" prepaid smartcards, its short term general travel tickets known as "Travelcards", or contactless bank cards. You can still buy Travelcards and top up Oyster cards with cash, of course. But paying the driver of the bus with the last of your small change is now a thing of the past.
Transport for London (TfL) have been preparing for a cash free system on buses for a year now. They have opted to retain London''s traditional on board payment system, rather than forcing passengers to buy tickets in advance. This has complicated things for mobile payments: they have had to make sure that the broadband signal was robust enough for reliable contactless payment. However, contactless bank card payment has been available on buses since December 2013, apparently without serious problems, although the "fare cap" that limits payment for multiple journeys using an Kamagra 100mg Oyster card to the equivalent Travelcard cost does not apply to bank card payments.
TfL have had to think about how to deal with people who don''t have the funds to pay for their journey. Over the last few years they''ve been making it quicker and easier to top up Oyster cards, and of course since December 2013 for most people contactless payment with a bank card has Cialis become an alternative. To deal with the problem of people being stranded because of lack of credit on their Oyster card, TfL are allowing Oyster card holders one extra journey over their Oyster card limit. They also warn people to keep their Oyster card away from other cards, not just to reduce the possibility of all of them being stolen in one grab, but also to reduce the risk that the card is incorrectly read by card readers because of "card clash". But critics say TfL still has not really addressed the problem of lost, stolen or damaged cards.
There will inevitably be teething problems with the system: occasional technological failures preventing people from paying by contactless bankcard, and people being stranded because of lost, Testosterone Enanthate 1000 Mg Per Week stolen or damaged cards though being stranded because a wallet has been stolen is a risk in systems that accept cash, too. It''s also not clear how TfL will address fare evasion on London''s famous open access buses when people can touch in with a bank card and no paper ticket is issued. Some people are concerned that the end of cash will also eventually mean the end Testosterone Cypionate Blood Clots of staff on buses, creating concerns for the safety of passengers.
Interestingly, in this scheme the usual objection to cash free systems "What about the elderly?" doesn''t apply. Pensioners in London have in effect used a cash free system for decades. They have free bus passes. Admittedly these do not have to be topped up, but the speed with which pensioners adapt to a pass based system suggests that the "elderly people can''t cope with technology" argument in "Anadrol 50" favour of retaining cash doesn''t wash.
And nor does the argument that children can''t cope without cash. School canteens have been going cash free for some time now. Some have a prepaid smartcard system, usually with a safety net to ensure that a child who has run out of credit still gets lunch. Others have an automated billing system using the school register. So far, to my knowledge, no school has adopted contactless payment, but as mobile money becomes more widely available, it is only a matter of time until schools start allowing children to pay for lunch with their mobile phones. Just as smartcards in schools, clever when they were first introduced, now look like old technology, the introduction of contactless payment on buses and eventually on trains, trams and the Underground too may eventually make the Oyster card redundant.
But Transport for London''s move is groundbreaking. This is the first time that the general public has been denied the right to use cash to pay for a local public transport service. Other public service providers, and probably retailers too, will be watching to see how it works. If it works well, we should see cash free systems rolled out more widely. The day Acheter Viagra Bruxelles when physical cash becomes redundant is drawing ever closer.