Cash transactions have declined from 70% down to 12% over the last decade or so. This is pushing society towards a cashless and potentially big brother model.
Will this trend eventually see the end of cash only service providers? Will it deter blokes that only pay with cash? Will it stop WLs from visiting our shores...any thoughts or opinions?
https://www.rba.gov.au/publications/...australia.html
I’ve been in Aus for around 18 months total now and quite literally the only thing I’ve ever taken out cash for is punting. I think it will be one of the last holdouts, if not the last, both on the punter (privacy) side and shop (tax) sideOriginally Posted by Double_Adapter
I think you can trade your massage service with HJ from MLs.
It's a Win Win transaction.
If you trust the Labor Party:
https://www.smh.com.au/politics/fede...15-p5erq1.html
Bro, you could ask the same question about tradesmen
The day tradesmen stop asking for cash payments, would be the day this country is completely submerged in volcano lava. In other words, never ever
I read somewhere some time ago that Sweden had gone about 90-95% cashless. They were about to go full monty & ban cash altoether. They then had an election & change in Government and the new mob running the show managed to get in as they campaigning on a "retain cash" policy.
I guess there's some hope for us yet...
Yes, this is a real problem. Thanks DA for bringing this up!
The problem is so bad now it's even affecting the grocery chains. Woolies recently lowered their cash out limit from $500 to $200 because too many people were using them like they were a bank to get cash.
Maybe "cash" would start to become some sort of contraband, hard to find and will cost you money to get. Imagine the only ways you can get cash out of an ATM is to pay $5 per withdrawal. If the Gov "bans" it but there's still a big demand for it, surely that's the only outcome?
Looking at it from a punting POV, I think we'll end up seeing most of the bigger shops have in-house ATMs installed and these will be our last ditch option to get cash. And the harder it is for us to get cash outside, the higher they can charge from those ATMs. It's an easy passive income stream for the shop.
I wonder how small shops are doing, not only rents are going up, customers not accepting of price increases and now with a greater move to eftpos, they'll be paying more tax, I guess rightly so but could have some bigger flow on effects.
Also don't forget with cashless the banks are getting a 1 to 2% cut of each transaction, essentially a 10th of gst.
If this industry was forced to go cashless, punting prices would definitely go up. There is no doubt in my mind about this.
You're right, it will make the shop owners have to pay tax. This reduces their net income from the business, but it wouldn't reduce the liabilities that they probably signed up for when they had the higher income. Eg. Big mortgages, big loans for whatever. Or who knows what else they really wanted or needed that relied on the higher income. So you can bet that they will increase the rate they charge to cover for the tax, so they can maintain the same level of net income.
I was in a rush to my booking at 108 Mirage and forgot to cash out. I messaged the papasan on WeChat and he says no problem they have an EFTPOS machine. When I got there I saw the surcharge sign and got a surprise - 10%! But the papasan told me he's gonna give me a 5% surcharge discount because it was almost closing time when I booked. Yeah it's definitely going to be expensive if we go cashless, shops have to pay tax, girls want more pay as they also have to pay GST + BAS and card surcharge on top of that.
Interesting, though the decline here is a more organic one fast tracked by Covid, greedy banks, technology, generational preferences (eg Gen Y, Z, A prefer digital transactions) etc etc
If the trend continues Oz will hit 90%-95% cashless in just a few years.
F_ck all that. If a brothel or massage shop wants my etpos card and details, I'm leaving
Cash will always be king in the sex industry. How will you guys go when you want your clothed HJ and the lady asks you for cash only?
Not taking about challenges withdrawing cash from banks that want to betray their social contract with society and close 90% of branches and ATMs
Btw a woman has to pay me if she wants to subject me to a clothed hj. Talk about payment for so little work
Cash will eventually disappear and we will all accept it
I found the toilet of a shop was so stinking with piss as some punters needed help with pissing into the toilet bowl more accurately.
I offered to clean it up and Mamasan asked one of the girl to give me a 30 minutes HJ.
Next time I will clean up the rooms for a 30 minutes of FS.
I think the world tends to go back to barter and punters should think of what service they can provide the mamasan or the WLs e.g. cleaning the car, painting the shop's wall, giving the WLs English lessons etc.
No comment on the other points, but you are absolutely right about the banks betraying their social contracts to society. It's all greed driven. By closing branches, they hugely cut the costs of running a bank. All of this being done just to keep on fuelling the endlessly increasing profits demanded by shareholders, and ultimately to ensure that the executives in those banks get their bonuses and pay rises.
On a side note, one way that could be used to not leave a paper trail when making a payment is crypto. Maybe we'll start seeing shops accepting payments with fast transfer cryptos like Solana in the future, lol...
That my friend, is the core problem with capitalism
Profit motive leasing to executive s making soulless decisions
One politician recently has been arguing for a new government bank to be re-established !
He's got the point. Sectors that are crucial to society should not be thrown to the wolves of capitalism, it'll be torn apart and eaten up by greed. Society will suffer as a result.
100%
We sold off highways, electricity, banks, insurance companies and telecommunications (Telstra).
Now we and all our following generations can have our bank accounts raped for all eternity. Tolls and electricity prices will always be unreasonable now
Surcharges like that are pretty much illegal:
Businesses can charge a surcharge for paying by card, but the surcharge must not be more than what it costs the business to use that payment type.
If a business charges a payment surcharge, it must be able to prove the costs it is based on.
If there is no way for a consumer to pay without paying a surcharge, the business must include the surcharge in the displayed price.
Perhaps a threat to report the business might cause them to reconsider.
Its nothing to do with branches closing with the declining use of cash. There are multiple businesses looking to reduce their cash usage which has led to all of this
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