I am crucified with Christ: nevertheless I live; yet not I, but Christ liveth in me: and the life which I now live in the flesh I live by the faith of the Son of God, who loved me, and gave himself for me. Galatians 2:20
Joined: 13 Jun 2006
Posts: 134
Location: Texas, Ye-HAW!
Thu Aug 24, 2006 3:09 am
Canada and Japan Leading the way for cashless societies
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Canadians have long been one of the most wired nations in the world, and as a nation we've always been among the first to adopt new technologies and adapt our lifestyles to them.
Thanks to our massive, sprawling country with several thousand miles separating some of our provinces, innovations in communication have always been one of Canada's strong suits. But another area Canadians seem to be slightly ahead of the pack on is the realm of cashless payments.
Canada was the first place for services such as Interac to catch on, and Canadians remain the world leaders in using debit cards. It seems we're just as willing to cut out the bank cards too, in favor of cell phones and Internet payments.
Canadians are warming up to the idea of paying without paper
I remember watching science fiction shows on TV that featured all sorts of cool gadgets that seemed totally impossible at the time. Computers that could talk, microchips that could be used as tracking devices, portable phones that could be used to pay for things. I remember in particular a Star Trek episode that mentioned the 'archaic' idea of cash. I thought to myself, "How much longer will paper money actually exist?" Well, judging by the popularity of debit cards and keychain payment devices, cash's days are numbered.
Esso and Shell launched their Speedpass and easyPAY systems a few years ago, and the technology is really gaining momentum. Both systems work the same way. The user just holds up their pass (which is basically a high-tech key fob) and charges appear on monthly credit card statements. Of course, it's not quite that simple. The fob is used to transmit a radio frequency identification (RFID) code. Then, an electronic system inside the pass reader, which is located at the pump or inside the store, 'talks' to a miniature radio-like device to assess your charges. The technology sounds complicated, but it makes life so much easier.
In Japan, where technology is always at least a year ahead of ours, people are already doing away with cash. Instead, they use their cell phones to pay for everything from coffee to lunch to a new pair of shoes. To add money to their cell phone smart cards, users can put cash into docking stations, and in return their phone is credited with electronic cash. It's expected that one in three Japanese people will be using this method of payment by 2008. What's best is that these smart cards don't just work as cash, but also as electronic keys and air miles cards. Shoppers can carry just their cell phones and let their fingers do the buying!
Here in Canada, it's likely that this kind of smart card will really take off. I say that because Canadians have become the world's most avid users of debit cards and ABMs (Automated Banking Machines). Unlike debit cards, which require you to press in your account and PIN information, payments via cell phone or smart card work just like the key fobs. They use radio frequency identification to transfer account information from the embedded chip to a merchant's point of sale terminal. Once the two connect, the transaction is completed within seconds. Credit cards aren't going to disappear just yet, but don't be surprised to be offered a smart card from your credit card company in the near future.
One more sci-fi payment option available in the U.S. right now is the new Pay By Touch system. Pay By Touch is a free service that allows you to pay with your fingerprint at certain stores. Your finger image securely links you, and only you, to your accounts. This system works as a kind of electronic wallet, allowing you to choose a method of payment from a Pay By Touch account that you set up on their website. You can sign up for the system at any participating store. Now, I should clarify, it's not actually a fingerprint that gets used here, but a series of tiny measurements between data points on your finger. This leaves room for some error, since not everyone has legible data points. The scanner can't read elderly or work-damaged hands, for instance. Obviously this is a relatively new system with a few kinks to iron out. But Pay By Touch, a world leader in biometric authentication, is sure to solve these problems.
So far, merchants seem impressed with the Pay By Touch technology. Piggly Wiggly, one of the main chains using the Pay By Touch system, has noticed a marked increase in checkout efficiency. They've also found that people who use Pay By Touch return to the store more often. The system is now also much more affordable to retailers than it was a few years ago. Today Pay By Touch offers fingerprint scanners for $50 each, while three years ago those same scanners were $2000 each. And at a cost of only 15 cents per transaction, it's a much more affordable option than paying the surcharges that go with accepting credit and debit cards.
All this sci-fi spending will soon let you part with your hard-earned money even more easily. Pretty soon you won't even need a wallet.
One more of 11 requirements for a One World Government is moving forward...
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Requirements For A One World Government:
1) Control Over All Mass Media
2) International Court System - (International Law)
3) International Tax (Monetary Income)
4) International Faith (One Faith For All)
5) Human Tracking System (RFID/RealID)
6) Corporate Control (Or Full Corporate Support)
7) One World Currency (Euro/Dollar/Pound/Yen)
8) Full Communication (One Major Language)
9) Military/Peace Force (Or Control Of Other Armies)
10) Ultimate Submission Of All Countries (Dissolve The Veto Power)
11) Leader(s)
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