| Topic: | Re:The cashless society: is it time? | |
| Posted by: | Barbara Dore | |
| Date/Time: | 27/07/17 10:28:00 |
| Downside of cashless society: Massive invasion of privacy (Time and time again banks have "lost" or had stolen customer details and information). Much bigger opportunities for cybercrime Much harder to control your spending and manage a budget Much harder to be sure you are charged correctly. Big Data: the data revolution means your spending habits would easily be collected and analysed. Anything from being told your teeth are decaying because you buy fizzy drinks to targeting advertising would be possible. Could think of a lot more adverse effects, but honestly, the loss of privacy is enough to convince me. I personally don't use contactless payments at all, ever. |