The humiliation of not having sufficient cash in your pocket to make a purchase order is steadily being changed with the embarrassment of not having a debit or bank card to purchase a product as extra institutions develop into cashless.
Infamously this week, impartial Queensland MP Bob Katter was fuming after the Parliament House workers eating room refused to just accept his $50 be aware when he tried to order fish, rice and greens for lunch.
His awkward encounter renewed debate about Australia’s transfer in direction of a cashless society.
National Seniors Australia chief government Chris Grice mentioned bank cards and on-line banking may not be as handy or doable for a lot of older Australians.
“The move to a more cashless society – and with it the phasing out of cheques, ATM and bank closures – has been happening for some time now,” he instructed NCA NewsWire.
“However, there are many seniors and others who would be greatly inconvenienced and experience hardship if cash was difficult to access or use.”
Mr Grice famous money was nonetheless a legitimate type of foreign money that needs to be accepted.
“Some seniors may not be comfortable banking online because they’re not tech savvy, they’re afraid of online and credit card scams, cash is what they know and it’s their only way to make financial transactions,” he mentioned.
“Doing any business online can come with a range of problems and risks, from inability to transact during system outages to data breaches.
“The move towards a cashless society should be made with seniors and others in mind.”
In Mr Katter’s case, workers provided to offer the MP his meal at no cost, however the 78-year-old declined.
Mr Katter took the problem to parliamentary speaker Milton Dick, who vowed to “immediately” reverse the cashless coverage.
“If you have a cashless society the banks control your life … you’re not able to buy a loaf of bread without permission from the banks,” Mr Katter mentioned later.
“It is bad enough now and it will become infinitely worse.”
Cash was additionally important throughout energy outages in pure disasters resembling cyclones, he added.
Mr Katter claimed money was “legal tender” and couldn’t be refused by companies.
But in response to the Australian Competition and Consumer Commission, companies may select which fee varieties they accepted.
“It is legal for a business to specify the terms and conditions that they will supply goods and services,” the ACCC says on its web site.
“This includes whether they will accept cash payment. However, consumers must be made aware of these terms and conditions before they make a purchase.
“Businesses should be clear and upfront about the types of payments they accept and the total minimum price payable for their goods and services.”
On the flip facet, card surcharges may anger customers.
The ACCC mentioned there have been guidelines round what companies may embrace in calculating surcharge prices.
“If there is no way for a consumer to pay without paying a surcharge, the business must include the minimum surcharge payable in the displayed price for its products,” the ACCC mentioned.
According to the Australian Banking Association, digital funds on smartphones jumped from $746m in 2018 to greater than $93bn in 2022.
The Commonwealth Bank of Australia not too long ago revealed it had shut down greater than one-third of its bodily branches and closed greater than 2000 ATMs over the previous 5 years.
Other banks have additionally closed branches and ATMs in recent times.
In September final 12 months, Woolworths introduced money withdrawals can be minimize from $500 to $200.
“This is due to the lack of cash being used in transactions, with the majority of customers opting for card-only transactions such as Everyday Pay,” a Woolworths spokesperson mentioned.
Meanwhile, the Albanese authorities is regulating digital fee wallets, like Google Pay and Apple Pay, in the identical approach different fee strategies are managed.
Source: www.perthnow.com.au
