Better Than Cash Alliance?

MasterCard have joined the " Better Than Cash Alliance".

Of course, "joined" doesn't really cover their involvement.

The Plastic Peddlers have given this odd-ball alliance a grant of $1.5 Million to fund marketing aimed at persuading poor people on our planet to get even poorer by resorting to using expensive cards.

It is understandable that MasterCard (and their close relations, Visa) are frustrated. They are spending tens of $Millions every year hyping their product, YET 80%+ OF ALL PURCHASES ON EARTH ARE STILL MADE USING CASH.

It is widely recognised that it is not a good idea to assume your potential customers are stupid.Yet that seems to be the approach favoured by MasterBore. Basically their message is "You are happy using cash-you show that by using it 80% of the time-but we know better. Stop being silly and do what we tell you".

They even have the cheek to suggest their cards assist in creating " financial inclusion".POOR PEOPLE ARE NOT SHORT OF CARDS:IT IS CASH THEY NEED.

Anyway, rest assured the Cash Is Cool Team will be watching carefully how the $1.5M grant is used-and, of course, warning our readers of any excessive pushing of the "Plastic Paradise".

Monday, 16th September 2013

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