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Cash is under threat across our planet.
Card schemes hate cash, as they can only wring profit from their debt-creating plastic products.
Visa and MasterCard have both made clear that cash is their enemy. Since 90% of all purchases on our planet are made using cash, this enemy of the card schemes must be the trusty friend of humanity.
Cash-is-Cool is working tirelessly to defend cash from predatory card schemes.
Earlier this week, the British Retail Consortium released the findings of their annual 'Cost of Collection' survey. They revealed that transactions involving credit cards dropped by a whopping 12.9% and that cash remains king, being used for more than half of all retail payments. Read more here.
Also, today (30th June 2011) marks the end of the Cheque Guarantee Scheme meaning that no longer will there be a guarantee from the bank that a payment will be honoured. Read more about this here. Is this a sad loss for consumer choice, or an outmoded form of payment that wont be missed? Leave a comment and let us know what you think.
Thursday, 30th June 2011